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In Business / College | 2025-07-05

What is an insurance premium?
A. The money paid each month to receive insurance coverage
B. The maximum amount of money an insurance policy will pay out
C. The estimated cost of an insurance plan over 20 years
D. The percentage of a bill that a customer must pay without insurance

Asked by shagunkaushik

Answer (2)

An insurance premium is the amount paid regularly to maintain insurance coverage, ensuring protection against risks. It differs from payouts and other terms associated with insurance policies. Understanding premiums is essential for managing insurance effectively. ;

Answered by GinnyAnswer | 2025-07-05

An insurance premium is the regular payment made to maintain insurance coverage, protecting against various risks. This payment can be monthly or annually and is influenced by factors such as coverage type and the policyholder's profile. The correct answer to the multiple-choice question is A: The money paid each month to receive insurance coverage.
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Answered by Anonymous | 2025-08-23

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