insurance premium
An insurance premium is the monthly or annual payment you make to an insurance company to keep your policy active.

What does regular pay mean in insurance?

Regular Pay means premiums need to be paid regularly throughout the coverage term. Regular pay does not include overtime, call back time, court time, paid holiday pay, taxable benefits or any other premium pay or special payments, fees or allowances.

Is premium monthly?

The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.

Which is the best definition of regular payment?

regular payment – a payment made at regular times. payment – a sum of money paid or a claim discharged. pay, remuneration, salary, wage, earnings – something that remunerates; “wages were paid by check”; “he wasted his pay on drink”; “they saved a quarter of all their earnings”.

What’s the difference between regular and single premium insurance?

However, the tax benefit for both these types of products under Section 80 C is upto Rs 1.5 per annum. However, the difference is that under a single premium policy you can avail of the tax benefits only once, whereas in a regular premium policy, you can avail of the same tax benefit throughout the premium paying term.

What do you call the monthly charge for life insurance?

The amount an individual must pay for his or her life insurance policy, also known as a premium. The monthly charge for a life insurance policy fluctuates depending on the insured person’s health, age, sex and other considerations such as lifestyle and the nature of the person’s profession.

What are the different types of life insurance?

A form of life insurance that makes remaining mortgage payments directly to the lender when the homeowner dies. A clause in an insurance policy with cash value that entitles the insured to all or a portion of the benefits, or a partial refund on premiums paid, if the insured person misses premium payments and the policy lapses as a result.