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
Keep Your Business (Insurance) Running
Get insurance that keeps your business in business.
Insuring Your Business With a Buy/Sell Agreement
It may help your business be better prepared in the event of the death of a principal or key employee.
Will It Pay to Buy Travel Insurance This Summer?
While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.