What is premium in insurance term?
The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance.
What is other words for premium?
Synonyms for "premium" include prize, fee, dividend, or bonus. In insurance and options trading, it may be synonymous with "price."
What is another term for the premium paid?
For example, if you pay $212 per month to keep your car insured, your yearly insurance premium would be $2,544. If you purchased a six-month policy, your insurance premium would be $1,272. Insurance premiums usually have a base calculation.
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