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Tag: Life Insurance

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Definitions for confusing insurance terms

Premium: The amount you pay periodically (monthly, quarterly, or annually) for your insurance policy. Premiums are the cost of your coverage. Deductible: The amount you must pay out-of-pocket before your insurance company starts covering the costs of a claim. For example, if you have a $500 deductible, you’ll need to pay the first $500 of […]