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
How Much Life Insurance Do I Need?
Your family's needs and assets are critical considerations when determining how much life insurance to invest in. Use this four-step process to help you calculate how much life insurance you need.
Choosing Between Term and Whole Life Insurance
Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.
Your DNA Test
Preparing for the unexpected can make all the difference if your family relies on your income.