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

Can Home Security Systems Affect Your Insurance?

Can Home Security Systems Affect Your Insurance?

In an effort to reduce the chance of considerable damage from robbery or theft, you may have recently implemented (or may still be considering) a home security system. Here’s how adding a home security system to your property may affect your insurance.

What to Look for in Personal Finance Apps

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.

Your Emergency Fund: How Much Is Enough?

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.