State the following statement is True or False:
Premium is a regular payment made by he insured to insurer.

True

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False

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Solution

The correct option is A True
Insurance is a contract where one party agrees to indemnify the loss of other party at the time of loss, for a consideration. Such consideration is generally called as 'premium'. It is the fee charged by insurance companies on the value insured. Premium is paid to the insurer at regular intervals.

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State the following statement is True or False:Premium is a regular payment made by he insured to insurer.

State the following statement is True or False:
Premium is a regular payment made by he insured to insurer.