I'd be happy to help with that question!
The correct answer is: A. premium
Here's why:
1. The amount of money you must pay to maintain an insurance policy is known as the premium. It is usually paid periodically, such as monthly or annually, to keep the insurance coverage active.
2. The premium amount is determined by various factors like the type of insurance, coverage limits, deductible amount, the insured person's age, health status, and other risk factors.
3. The premium is separate from the deductible, which is the amount the policyholder must pay out of pocket before the insurance company starts to cover expenses.
4. Coverage refers to the protection and benefits provided by the insurance policy, while liability is the legal responsibility for one's actions or debts.
So, in the context of insurance, the correct term for the amount of money you must pay to maintain the policy is the premium.
