Insurance Premium

Payment for insurance coverage.

The premium is the contribution the policyholder pays for insurance coverage. If the first premium is not paid, coverage may lapse; for follow-up premiums, special reminder and cancellation rules apply before the insurer is released from liability.

The relevant statutes

§ 33 VVG

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Related terms

Policyholder
Duty of the Insured

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General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.