The amount of money paid to keep an insurance policy in force is the
A) premium.
B) deductible.
C) co-pay.
D) co-insurance.

Name: The amount of money paid to keep an insurance policy in force is the A) premium. B) deductible. C) co-pay. D) co-insurance.
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Question

Quizplus · Accepted Answer

A premium is the periodic (monthly, quarterly, or annual) payment of a specific sum of money to an insurance company, for which the insurer in return agrees to provide certain benefits.

The Amount of Money Paid to Keep an Insurance Policy