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
Combine Your Policies and Save
Some things just make perfect sense in pairs.
Personal Finance Tips for Military Families
Military families face unique challenges, making personal finance even more critical.
The ABC’s of Auto Insurance
What kind of auto insurance should you have? Do you know?