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

Why Medicare Should Be Part of Your Retirement Strategy

Why Medicare Should Be Part of Your Retirement Strategy

How Medicare can address health care needs in your retirement strategy.

What is a Claim?

What is a Claim?

Do you know what a Claim is?

10 Most Common and Costly Small Business Claims

10 Most Common and Costly Small Business Claims

Here are the 10 most common claims against small businesses. Are you covered?