Insurance What is a Premium? Premium[pree-mee-uh m]noun1.A Premium is the payment made to the insurance company, either monthly or in a lump sum, to purchase insurance. The Premium does not include other costs like copays or deductibles. Have A Question About This Topic? Name Email Address Message Thank you! Oops! Insured at Every Stage: Getting Married Taking steps to protect yourself as you enter marriage can be challenging. Luckily, we're here to help. This ebook outlines the critical elements to consider as you explore insurance options. First Name Last Name Email Address Thank you! Oops!