____is an amount paid periodically to the insurer by the insured for covering his risk by any insurance policy.

A)
Mortality
B)
Premium
C)
Annuity
D)
Paid up

Correct Answer : Option (B) - Premium



Premium is the amount which the person who has bought the insurance policy (insured) pays to the person/company from which he has bought the insurance policy (insurer) so that the policy continues to pay the benefit.

Published On : June 2, 2021
Category : Insurance and Finance