Insurance Premium (Noun)
Meaning
Payment for insurance.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company deducted the insurance premium from my salary every month to provide health coverage to employees.
- You can reduce your insurance premium by choosing a higher deductible on your car insurance policy.
- She struggled to pay her insurance premium after losing her job due to company restructuring.
- The new employee was pleased to find out that the company covered 75% of the insurance premium for all full-time staff.
- If you smoke, your life insurance premium will be higher compared to a non-smoker of the same age and health.