Insurance Premiums

An insurance premium is the routine recurring payment or rate paid by an individual to a company for active coverage of an insurance policy. An insurance premium is the amount of money paid in installments within the time period of an indemnity policy. By disbursing a specific sum of money as installments within a certain time period, as delineated by a two-party contract of the policy, the owner will be compensated on an agreed-on financial assurance for unexpected accidents or destruction to property. Depending on the type of insurance policy, rates of insurance premiums vary because of factors such as health, age, value of property insured, or area of residence. A premium should be paid without fail, or it may affect the whole insurance policy. ...