What does premium mean in insurance?
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 does first year premium mean?
First Year Premiums means the aggregate life insurance premiums payable during the first year a policy or contract of insurance is in effect, exclusive of lump-sum cash deposits in excess of published premium rates, and/or premiums for flexible premium life insurance contracts in excess of control or target premiums.
What is premium and types of premium in insurance?
The difference between the price paid for a fixed-income security and the security's face amount at issue is referred to as a premium if that price is higher than par. The purchase price of an insurance policy or the regular payments required by an insurer to provide coverage for a defined period of time.
[PDF] Glossary of Common Insurance Terms
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[PDF] Pay your initial life insurance premium in 3 easy steps
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[PDF] Payment of premiums and consequences of non-payment
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[PDF] Overview The life insurance policy illustrated on the following pages
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[PDF] Introduction What is life insurance? How can I purchase a life - LIAM
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[PDF] Initial Premium Payment Information
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[PDF] Life Insurance
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[PDF] Pre-Authorized Check (PAC) Premium Payment Service - MassMutual
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[PDF] Understanding your options to continue life insurance coverage
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