Which of the following is the best definition for an insurance premium?
An insurance premium is the amount of money an individual or business must pay for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance.
Which of the following is the best definition of the term deductible?
Which of the following is the best definition of the term “annual health insurance deductible?" The amount that is deducted from your paycheck each year to pay for your policy.
What is the definition of premium quizlet?
premium. the rate that an insured is charged; fee paid for insurance/rate charged. coverage. protection provided by the terms of insurance policy.
What is the premium of an insurance policy quizlet?
An insurance premium is the amount of money that an individual or business must pay for an insurance policy. The insurance premium is income for the insurance company, once it is earned, and also represents a liability in that the insurer must provide coverage for claims being made against the policy.
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