What’s the Difference Between Insurance and Premium?

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Difference Between Insurance and Premium

What’s the difference between Insurance and Premium?

 

Many persons want to have some securities in the times of financial needs and this is where purchasing an insurance policy comes in.

There are some things one need to know before or after purchasing an insurance policy that is Insurance and Insurance Premium.



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What is Insurance?

Insurance is a way to managing a person or a company’s risk. This is an arrangement by which an Insurance Company provides a guarantee of compensation for specified loss, damage, illness, or death in return for a specified premium paid monthly or yearly. There are several types of Insurance…. Read More

What is an Insurance Premium?

An insurance premium is the amount you pay for your insurance every month be it Car Insurance, Home Insurance, Health Insurance, Property Insurance, Travel Insurance, flood insurance among others.

What is the difference between Insurance and Premium?

Insurance is an arrangement by which a Company provides a guarantee of compensation for a named loss, damage, illness, or death in return for an amount whiles an insurance premium is the amount you pay for your insurance every month to your insurance provider.

 

Source : Keeoko.Com

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