Definition-Money paid for insurance
How far are you in your understanding? I can:
1.0: Write a factual statement (not definition) concerning a premium.
2.0: In your own word (not the teacher's), define premium.
3.0: Identify what causes a premium to increase.
4.0: Discuss how a person would choose between a higher deductible and lower deductible. Please give 2-3 reasons for both types of deductible.