How Do I Know What My Health Insurance Premium Is? 
A premium is the amount you pay to the insurance company -LRB- generally on a monthly basis - depending on the kind of insurance , you may desire to pay quarterly , semi-annually , or annually -RRB- in exchange for coverage under a given policy . When a certain type of claim is made , the insurance company is going to pay the claim instead of you up to the defined amounts as stated inside the policy - for health insurance , the policy may only state the carrier is going to cover a percentage of the claim and you would pay the difference . 