insurance premium
Policy holder's payment
An insurance premium is the amount paid to an insurance company for coverage, typically due monthly, quarterly, or annually.
The premium buys protection against specified risks—health costs, property damage, liability claims.
Premiums vary based on risk factors: a young driver pays higher auto premiums, a smoker pays more for life insurance.
My health insurance premium went up again this year.
- costRequired payment amount
- annual ratePer-year measurement
- rateMeasured speed or charge
- priceMonetary value assigned
- sticker shockDistress from unexpected expense
underwriting · check · riders · fine print · deductible · exclusions · bill · grace period · installment plan · payment due · risk · late fee · out of pocket · lump sum · probability · policyholder · fee · liability
- financial commitmentsloan, mortgage, bond, promissory note, debenture
- expensesexpenses, expense, expenditure, cost, costs
- rates & feesroom rate, parking fee, storage fee, service charge, flat rate
- recurring paymentsrent, mortgage payment, car payment, loan payment, utility bill
- medical expensesmedical bill, hospital bill, copay, copayment, deductible
- paycheck deductionsincome tax, federal tax, state tax, withholding, FICA
insurance premiuminsurance payout
Compensation from a policy
insurance claim · settlement · indemnity · benefits · reimbursement
insurance premiumcoverage
Extent of inclusion
protection · policy benefits · insured value · coverage amount · peace of mind