Question

Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called ______.

विकल्प

• EMI

• Installment

• Contribution

• Premium

Answer 1

Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called premium.

Explanation:

The fixed amount paid by customers to an insurance company at regular intervals is called a Premium. It is the payment made to keep the insurance policy active.