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

Insurance Needs Assessment: When You're Newly Married

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs.

The Best of Both Worlds

The Best of Both Worlds

Here are a few reasons we’ve chosen to be independent.

Important Birthdays Over 50

Important Birthdays Over 50

Here's a look at several birthdays and “half-birthdays” that have implications regarding your retirement income.