The questions that readily come to my mind about the whole issue are:
1. What exactly is this premium and what exactly make it so important that everybody talks about it that is even siad that without it, there is no contract. It even puzzles one the more, when someone from the blues comes and present himself or herself as somebody working for an insurance company and just ask you to pay a certain sum of money periodically either monthly, quarterly or yearly for an uncertain event.
2. How is premium rate fixed and what are the benefits to insured? Insurer and economy as a whole one that benefit are paid? These and many other questions we shall look into and find answers to them and we believe our findings will go a long way in convincing people on the importance of premium to the validity of an insurance contract.
