Jargon Buster: Premium

[Rahul]

Premium is the amount life insured pay, in one go or one of the regular periodic, to insurance company or an insurer in exchange for the life insurance agreement.

[Natraj]

Good Topic - Rahul Thanks !!

My Understanding on Premium -
This is the contribution / payment that a policyholder makes to a life insurance company to obtain insurance cover.

[CONFUSED]

In simple words - Amount proposer/insured pay to take/continue insurance coverage.