insurance premium

amount of money paid for insurance

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage.  Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
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Noun
1. payment for insurance
(synonym) premium
(hypernym) payment

Payments calculated by the insurance company based on risk factors that must be made by the insured guarantee protection of property loss under an insurance policy.

Insurance premium
(Econ) Tiền đóng bảo hiểm.+ Xem INSURANCE.
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insurance premium
danh từ phí bảo hiểm, bảo phí
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