In insurance, a premium is:
A. The maximum amount the insurer will pay for a claim.
B. The percentage of a claim that the insured must pay out of pocket.
C. The fixed amount the insured must pay for the insurance coverage.
D. The additional coverage added to an insurance policy.
Answer:C
In insurance, a premium is:
A. The maximum amount the insurer will pay for a claim. B. The percentage of a claim that the insured must pay out of pocket. C. The fixed amount the insured must pay for the insurance coverage. D. The additional coverage added to an insurance policy.