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Definition: Premium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium.
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Insurance Premium is paid as a cost to cover a possibly unseen devastating loss. It is the actual amount of money charged by insurance companies for active
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An insurance plan is a contract between an insurer and an insured. Any valid contract has a consideration, and the consideration you pay for an
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The insurance premium is the sum of money an individual or business must pay for aninsurance policy. The amount of insurance premium that
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What Is the Insurance Premium? Everyone knows insurance costs money, but a term that is often new when you first start buying insurance is "premium." Typically, How Much Is an Insurance... · What Factors Determine the...
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Simply put, “premium” means a payment. It's the amount of money you pay your life insurance company in exchange for your coverage. The payout itself (called a
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In a nutshell, an insurance premium is the payment or installment you agree to pay a company in order to have insurance. You enter into a
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An insurance premium is the amount of money an individual or business must pay for an insurance policy. Insurance premiums are paid for