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

Preparing for the Expected

Preparing for the Expected

You can plan ahead to protect yourself and your family against the financial consequences of deteriorating health.

Can Group, Private Disability Policies Work Together?

Can Group, Private Disability Policies Work Together?

Loss of income from disability has the potential to cause financial hardship. Disability insurance can help.

Did You Know This Fact About Flushing the Toilet?

Did You Know This Fact About Flushing the Toilet?

Did you know you can still flush the toilet, even if your well pump is stopped.