Are you looking for the correct answer to the question “Which of the following is the best definition of premium?”? If that’s the case, you don’t have to worry anymore. Azanswer team is here with the right answer to your question. Please check below to know the answer.
Which of the following is the best definition of premium?
A.The amount the insured pays per unit of coverage
B.Money the insured pays the insurer to obtain the benefits in the policy
C.Money the insurer pays the insured to obtain the benefits in the policy
D.Bonus paid by an agent to convince an insured to buy a policy
Answer: B.Money the insured pays the insurer to obtain the benefits in the policy
The above question Which of the following is the best definition of premium?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
