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
Insuring Your Business With a Buy/Sell Agreement
It may help your business be better prepared in the event of the death of a principal or key employee.
Did You Know Your Insurance Claims Aren’t Secret?
When you make an insurance claim, it can stay on record for up to seven years. Here's why CLUE reports are important and how they affect your premiums.
Why An Annuity May Be Key to Your Retirement Plan
If you’re looking for a way to supplement your income in retirement, an annuity may be for you.