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.
Related Content
The Value of Insuring Against Life’s Risks
Building wealth requires protection from the forces of wealth destruction.
Side-by-Side: Insured vs. Uninsured
Here's what happens if your small business has an accident and you're not insured.
How Swimming Pools Affect Your Homeowners Policy
When the weather warms up, it’s important to remain up to date when it comes to your insurance coverage—especially if you own a pool.