The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MINIMUM PREMIUM Definition & Legal Meaning

Definition & Citations:

An employer pays an amount with a percentage used to cover administration costs. Also refers as a general insurance term to mean the lowest premium in this policy for an insured’s coverage. This term, as used In health insurance, refers to an arrangement where either situation occurs. The insurer saves the rest to pay claims.

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This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.