Definition of "Premium"
'''The payment, or one of the regular periodic payments, that a policyholder makes to own an insurance policy.
The amount of money an insurance company charges for insurance coverage.
'The amount you or your employer pays in exchange for insurance coverage.
'The payment, or one of the regular periodic payments, that a certificate holder makes to own a life insurance certificate or annuity.
'The amount of money paid to the insurance company in return for insurance protection. Typically, a premium is payable once a year for the next year's insurance coverage. Other modes of payment may include monthly, quarterly, semiannual or a single premium payment.
