Finance Vocab

Premium

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An additional cost paid on top of an asset's normal cost.

15.

• Premium

• Insurance

• 401(K)

• IRA

Individual Retirement Account.

Is Gross pay Back The amount of money you receive before taxes are withheld.

• YES

• NO

• Who cares

• Your M0M.

What is a premium?

• The amount you pay the insurance company for coverage.

• The amount you are personally required to pay before your insurance covers the cost.

• A fixed fee you pay for specific medical services.

• The most you have to pay for health care in a full year.

A ______ is the charge for coverage, and a ______ is the amount the insured is required to contribute before the insurer pays the rest.

• Deductible; Premium

• Premium; Deductible

• Claim; Casualty

• Casualty; Claim

If you are considered a high risk driver, you will probably pay a lower premium (monthly payment).

• True

• False

A sum a buyer pays upfront when purchasing an expensive good such as a home or car.

• Insurance.

• Retirement

• Down Payment.

• The Bruin Way

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• ________ Interest that applies not only to the initial principal of an investment or a loan, but also to the accumulated interest from previous periods.

What is a premium?

• The amount you pay the insurance company for coverage.

• The amount you are personally required to pay before your insurance covers the cost.

• A fixed fee you pay for specific medical services.

• The most you have to pay for health care in a full year.

If you are considered a high risk driver, you will probably pay a lower premium (monthly payment).

• True

• False