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
Travel, Without the Baggage
Tips to avoid checking in luggage on your next vacation.
Insurance Needs Assessment: Married With Children
When you’re married and have children, insurance needs will be different.
How Does an Umbrella Insurance Policy Work?
If you have a lot to lose, an Umbrella policy could be exactly what you need.