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

How to File a Wildfire Claim

How to File a Wildfire Claim

Here’s what you need to know when filing a wildfire insurance claim.

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

Avoiding Cognitive Decline

Avoiding Cognitive Decline

Try these activities to keep your brain sharp.