Question

What is the definition of premium

Answer 1

If you are talking about the business definition of premium, it is a "give-away" item or free gift that usually has the company's name, address, and telephone number printed on it. Another definition would be the amount of money the policyholder pays for coverage.

Answer 2

Hello there :)

A premium can be multiple things so I will give you 2 definitions

1. An amount to be paid for an insurance policy
2. An additional fee added to a charge


Hope this helps :)