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
Will It Pay to Buy Travel Insurance This Summer?
While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.
The A, B, C, & D of Medicare
Learn about all the parts of Medicare with this informative and enjoyable article.
Silver Sneakers 101
Medicare’s popular program, offering free gym membership and health education.