which of the following best describes the term premium?\nadditional amount of coverage on a…
which of the following best describes the term premium?\nadditional amount of coverage on a policy\nadditional money paid on a claim above what was owed\nthe best coverage available\nthe fee paid for insurance protection
Answer
Brief Explanations:
In the context of insurance in the business - finance sub - field, a premium is the regular fee paid by a policyholder to an insurance company for the insurance protection provided. The other options do not accurately define a premium.
Answer:
The fee paid for insurance protection