Premium Meaning. An amount of money paid to get insurance. Surcharge extra charge additional fee or charge More Synonyms of premium.
Mar 30 2021 A premium is a sum of money that you have to pay for something in addition to the normal cost. Premium A reward for an act done. Correctly computed the income of a wage earner entitled to a pension consists of his wages plus the amount of the premium he would have to pay to an insurance company for the acquisition of an equivalent claim.
In an insurance contract the risk is transferred from the insured to the insurer.
Surcharge extra charge additional fee or charge More Synonyms of premium. Here are the basics to help you understand what an insurance premium is and how it works. The premium is a function of a number of variables like age type of employment medical conditions etc. Oct 26 2020 In the most simple terms the insurance premium is defined as the amount of money the insurance company is going to charge you for the insurance policy you are purchasing.
