Premium

The amount paid to the health insurance carrier each month to purchase health coverage. The premium is paid by the policyholder on an individual policy. On employer group plans, the cost of the premium amount can be shared by the employee and the employer.

The amount that must be paid for your health insurance or plan. You and/or your employer usually pay it monthly, quarterly or yearly.

The periodic payment required to keep a policy in force.

The price charged for insurance.

The amount you pay for insurance.

The price of insurance paid to the insurance company for a policy.

The amount paid by an insured to an insurance company to obtain or maintain an insurance policy.

The amount you pay for insurance.

The amount paid by an insured to an insurance company to obtain or maintain an insurance policy.

The price charged for insurance.

The payment, or one of the regular periodic payments, that a policyholder makes to own an insurance policy.

A premium is the purchase price of an insurance policy or an annuity contract. You may pay the premium as a single lump sum, in regular monthly or quarterly installments, or in some cases on a flexible schedule over the term of the policy or contract.

When you pay over time, the premium may be fixed for the life of the policy, assuming the coverage remains the same. That's the case with many permanent life insurance policies.

With other types of coverage, the premium changes as you grow older or as costs for the issuing company increase.

Used in another sense, the term premium refers to the amount above face value that you pay to buy, or you receive from selling, an investment. For example, a corporate bond with a par value of $1,000 with a market price of $1,050 is selling at a $50 premium.

An amount paid on a regular schedule by a policyholder that maintains insurance coverage.