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- Premium payment refers to:
- Wages provided to employees above their standard earnings for working under certain conditions or times that are outside the ordinary periods of their administrative workweek1.
- The sum of money paid to an insurance provider at regular intervals for life insurance coverage. The frequency of payments depends on the chosen mode of premium (annually, semi-annually, quarterly, or monthly)2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Premium pay refers to wages provided to employees above their standard earnings for working under certain conditions or times that are outside the ordinary periods of their administrative workweek.www.shiftbase.com/glossary/premium-payWhen you purchase life insurance, you agree to pay a specific sum of money, or premium, to the insurance provider at regular intervals. The frequency or period of your payments depends on your mode of premium. Most insurance providers offer several modes of premium, the most common of which come annually, semi-annually, quarterly, or monthly.www.investopedia.com/articles/fa-profession/09191… - People also ask
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Premium Pay (Title 5) - U.S. Office of Personnel Management
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What is a life insurance premium and how does it work?
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