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
6 Reasons Millennials Should Buy Life Insurance
Life insurance is more than a savings account for your loved ones. Learn the ins and outs of this valuable financial asset and see why it is important no matter your age.
Universal Life Insurance
Universal life insurance is permanent insurance with a flexible premium. Here's how it works.
How Pre-Existing Conditions Affect Life Insurance
If you’re considering life insurance but have a pre-existing condition, you may want to check out the facts before automatically assuming you'll only receive low-quality or expensive coverage.