Define Insurance Premiums. Insurance Premiums synonyms, Insurance Premiums pronunciation, Insurance Premiums translation, English dictionary definition of Insurance Premiums. Noun 1. insurance premium - payment for insurance premium payment - a sum of mo
The meaning of PREMIUM is a reward or recompense for a particular act. How to use premium in a sentence.
Let’s say you’re considering purchasing a level-premium life insurance policy with a duration of 30 years. The insurance company provides you with a quote for an annual premium of $1,200. This means that for the next three decades, you’ll pay the same $1,200 premium every year, reg...
Definition Entries Near Cite this Entry Share Show less Save Word unearned premiumnoun: the share of a total insurance premium applicable to the unexpired portion of a policy term The Ultimate Dictionary Awaits Expand your vocabulary and dive deeper into language with Merriam-Webster Unabridged. ...
Written premiums concern the amount of premium that is charged for a policy. But specifically, it’s for a policy that has already come into effect. This is regardless of what portions have already been earned. A written premium is the main source of revenue for an insurance company. They ...
Apremiumon aterm life insurancepolicy that remains the same throughout the term. A level premium is higher than other policies with similarcoverage, but the coverage increases over the term of the policy. This means that by the end of the term, the premium is lower than other policies with...
Insurance.the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments. Economics.the excess value of one form of money over another of the same nominal value. a sum above the nominal or par value of a thing. ...
Definition of premium noun from the Oxford Advanced Learner's Dictionary premium noun /ˈpriːmiəm/ /ˈpriːmiəm/Idioms an amount of money that you pay once or regularly for an insurance policy a monthly premium of £66.25 Synonyms payment Wordfinder Extra Examples Oxford ...
Premiums are higher for permanent insurance like whole life policies than term life for two primary reasons. The first is that the policy covers the insured for their entire life, and the second reason is that a portion of a permanent life premium is paid into the policy as cash, and can ...
Premiums for insurance include the compensation the insurer receives for bearing the risk of apayoutshould an event occur that triggers coverage. The premium may also contain a sales agent's or broker's commissions. The most common types of coverage are auto, health, and homeowners insurance. ...