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
Leveraging Whole Life to Pass on Wealth
Using whole life to transfer wealth when it comes to paying estate taxes
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.
When to Self-Insure
Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?