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

4 Tips for Adding Your Teen to Your Car Insurance

4 Tips for Adding Your Teen to Your Car Insurance

If your teen is approaching driving age, you may be preparing to add them to your car insurance. It’s important to be aware of these four things before you do so.

How to Read Your Credit Report

How to Read Your Credit Report

Solve a mystery while learning how important your credit report is with this story-driven interactive.

Retiree Health Care Coverage Overseas

Retiree Health Care Coverage Overseas

Retirees traveling abroad need to know that their health insurance travels with them.