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Premium

Term · Law · MLC-T-LAW-003855

The amount of money paid by a policyholder to an insurance company for coverage against specified risks. This payment is typically made periodically, such as monthly or annually, to keep the insurance policy in force. The premium amount is determined by factors such as the type of coverage, the insured's risk profile, and the policy's deductible.

Table 1. Record
IdentifierMLC-T-LAW-003855
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003855",
  "term": "Premium",
  "field": "Law",
  "definition": "The amount of money paid by a policyholder to an insurance company for coverage against specified risks. This payment is typically made periodically, such as monthly or annually, to keep the insurance policy in force. The premium amount is determined by factors such as the type of coverage, the insured's risk profile, and the policy's deductible.",
  "url": "https://mlchart.com/terminology/law/premium/"
}

Record 3,881 of 5,439 in Law terminology (MLC-0107). Request the full dataset.