You are viewing a preview location.
Insurance

What is a Premium?

Premium

[pree-mee-uh m]

noun

1.

A Premium is the payment made to the insurance company, either monthly or in a lump sum, to purchase insurance. The Premium does not include other costs like copays or deductibles.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

The Other Sure Thing

The Other Sure Thing

A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.

Is Term Life Insurance for You?

Is Term Life Insurance for You?

Term insurance is the simplest form of life insurance. Here's how it works.