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

Life Insurance Needs in Your 60s and 70s

Life Insurance Needs in Your 60s and 70s

Many older people think it's too late for life insurance. Actually, life insurance can be part of a sound financial strategy for people in their 60s and 70s as well.

Silver Sneakers 101

Silver Sneakers 101

Medicare’s popular program, offering free gym membership and health education.

Insurance Needs Assessment: When You're Young and Single

Insurance Needs Assessment: When You're Young and Single

Even if you’re young and single, you should still consider protecting yourself.