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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Will It Pay to Buy Travel Insurance This Summer?

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

The A, B, C, & D of Medicare

Learn about all the parts of Medicare with this informative and enjoyable article.

Silver Sneakers 101

Silver Sneakers 101

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