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What is payment for insurance?

Updated: 8/16/2019
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Wiki User

15y ago

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Payment of insurance is nothing but the premium paid towards the insurance policy. The premium amount includes the charge of coverage per unit (for example, the charge of coverage for $1000 might be $10. So, to have an insurance coverage for $10,000 the charge of coverage would be $100) plus the expenses incurred by the insurance company for the policy.

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Wiki User

15y ago
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