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
Is Your Insurance Santa Proof?
The holiday season isn't complete until you've watched your favorite Christmas movie. Consider how the aftermath of these favorite movie mishaps would play out in real life.
Choosing Between Term and Whole Life Insurance
Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.
The Other Sure Thing
A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.