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
Test Your Life Insurance Knowledge
How much do you know about one of the most important tools you have to help protect your and your family’s financial future?
What is a Term?
Do you know what a Term is?
Consider Keeping Your Life Insurance When You Retire
Reasons to retain your coverage into your retirement years.