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
Assess Life Insurance Needs
How to help determine life insurance needs to provide for your family after you pass away.
What Does Boat Insurance Cover?
Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.
How Pre-Existing Conditions Affect Life Insurance
If you’re considering life insurance but have a pre-existing condition, you may want to check out the facts before automatically assuming you'll only receive low-quality or expensive coverage.