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
The Other Sure Thing
A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.
The Five Basics of Financial Literacy
How literate are you when it comes to your finances? Brush up with these five basics.
What is Risk?
Do you know what Risk is?