I know that a lot of us are familiar with the fact that we pay some money to insurance companies so that they'll be able to insure whatever we have paid them to insure. As we all know that there are different types of insurance policies like life insurance, health insurance, car insurance, general insurance, business insurance and so many more.
We all know that there is a particular amount that we remit to the insurance company either monthly, weekly or yearly. I guess a lot of us do not know what it is called. It is called a premium.
What exactly is a premium?
A premium is an amount that should be paid in the contract of an insurance policy. The premium may be paid due to the agreement that you and the insurance company have.
So instead of saying that you paid some money to the insurance company, you can as well say that you paid your premium because that is the right word to use when it comes to words that relate with insurance.
I hope we can learn from this and stop saying that we paid money to insurance company but say that we paid our premium.
We all know that there is a particular amount that we remit to the insurance company either monthly, weekly or yearly. I guess a lot of us do not know what it is called. It is called a premium.
What exactly is a premium?
A premium is an amount that should be paid in the contract of an insurance policy. The premium may be paid due to the agreement that you and the insurance company have.
So instead of saying that you paid some money to the insurance company, you can as well say that you paid your premium because that is the right word to use when it comes to words that relate with insurance.
I hope we can learn from this and stop saying that we paid money to insurance company but say that we paid our premium.
