Answered

An insurance premium is:

A. a discounted rate an insured person gets to pay for a service.
B. a monthly payment that ensures insurance coverage for a person.
C. an estimate of the amount of money a person can save on insurance.
D. a limit on the amount of insurance money a person can claim.



Answer :

GinnyAnswer

Final answer:

An insurance premium is a regular payment made by a policyholder to an insurance company for coverage.


Explanation:

Insurance premium is the amount that a policyholder pays to an insurance company in exchange for coverage. It is a regular payment that helps spread the financial risk across a pool of individuals. The premium, along with deductibles and co-payments, is essential in health insurance to ensure coverage and manage costs.


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