The payment made periodically in respect of an insurance policy entered into is known as ____________
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Correct Answer: Option C
Explanation:
A premium is the amount paid by an insured person to an insurance company for the insurance cover provided. Depending on the policy, the premium may be paid monthly, quarterly, annually or at another agreed interval.
A premium is the amount paid by an insured person to an insurance company for the insurance cover provided. Depending on the policy, the premium may be paid monthly, quarterly, annually or at another agreed interval.