MANAGEMENT

Detailed explanation-1: -Premium in life insurance refers to the amount that a policyholder will pay either in a lump sum or regularly to purchase the insurance policy. It is also known as policy premium. The insurers normally provide monthly or annual premium amounts for the life insurance plans.

Detailed explanation-2: -Premiums can be paid through monthly, half-yearly or even annual installments. Customers can also pay the entire amount as a one-time payment for the whole policy term prior to the commencement of coverage in some cases.

Detailed explanation-3: -The insurance premium is the sum of money an individual or business must pay for an insurance policy. The amount of insurance premium that is paid out by the policyholder to the insurance company depends on a variety of factors.

Detailed explanation-4: -Definition: The total amount of premium paid annually is called the annualized premium. Description: Any insurance policy comes up with many premium payment options. Premium can be paid monthly, quarterly, semi annually and annually.

Detailed explanation-5: -An annual premium is the amount an insured needs to pay over the course of a year in order to keep their insurance policy in place. The annual premium you need to pay for life insurance gets set by the insurance provider once they evaluate your risk factors.