Premium is the amount life insured pay, in one go or one of the regular periodic, to insurance company or an insurer in exchange for the life insurance agreement.
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Premium is the amount life insured pay, in one go or one of the regular periodic, to insurance company or an insurer in exchange for the life insurance agreement.
Good Topic - Rahul Thanks !!
My Understanding on Premium -
This is the contribution / payment that a policyholder makes to a life insurance company to obtain insurance cover.
In simple words - Amount proposer/insured pay to take/continue insurance coverage.