what is...

PREMIUM The price of an insurance policy, typically charged annually or semiannually. ALSO SEE: UNIVERSAL LIFE INSURANCE, AUTO INSURANCE PREMIUM, NONSMOKER RISK CLASS, WHOLE LIFE INSURANCE, VANISHING PREMIUM, DEFERRED ANNUITY, DIRECT PREMIUMS, TERM INSURANCE, LEVEL PREMIUM, UNDERWRITING, DECLARATION, REINSURANCE, COMMISSION, DEDUCTIBLE, INSURANCE, DIVIDENDS, CAPACITY, WAIVER, COBRA, RIDER, LAPSE