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

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.

Did You Know This Fact About Carpooling?

Did You Know This Fact About Carpooling?

Carpooling might save you money on your premiums.

Lifetime of Earnings

Lifetime of Earnings

Estimate how much you have the potential to earn during your working years.