amount of premium

USAGE SUMMARY

The phrase "amount of premium" is correct and usable in written English.
It can be used in contexts related to insurance, finance, or any situation where a premium is being quantified. Example: "The amount of premium required for the policy will be determined based on the applicant's risk profile."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

54 human-written examples

Of course, like any insurance program, the economic success of the service rests on the size of those claims and the amount of premium collected.

The New York Times

For the same amount of premium, an investor could buy 10 call options on the Standard & Poor's 500 index expiring in six-months with a strike price that is 15 percent above current levels, or just one put option at strike price 15 percent below the current levels.

The New York Times

The amount of premium is based on a country's score.

Forbes

The trader retains the full amount of premium if HIG's shares settle at $28 at expiration.

Forbes

The investor keeps the full amount of premium received if FLEX shares settle at $7.50 at expiration.

Forbes

The investor is well protected, however, because of the large amount of premium received on the trade.

Forbes

Human-verified similar examples from authoritative sources

Similar Expressions

5 human-written examples

The tax would apply to the amount of premiums above the threshold.

The New York Times - Health

Federal officials have not specified the amount of premiums or benefits.

The New York Times - Health

Its membership increased by 22 in the last fiscal year and the amount of premiums the organization wrote increased from about $21.7 million to $27.4 million, Mr. Wollschlager said.

The New York Times

Individuals would include in their income taxes the amount of premiums over and above, say, the average cost of employer-sponsored insurance.

The New York Times

But the two parties have profound disagreements over the design and generosity of the benefits; the amount of premiums, co-payments and deductibles; and the role of private companies in managing the benefits.

The New York Times

Expert writing Tips

Best practice

When discussing insurance or financial contexts, use "amount of premium" to clearly specify the cost associated with coverage or investment. It is especially useful in scenarios where multiple premiums might exist, and clarity is needed.

Common error

Avoid using "amount of premium" when referring to the advantages or features included in a premium package. Instead, reserve "amount of premium" to refer strictly to the cost. To describe what premium offers, use terms such as "premium benefits" or "premium features".

Linguistic Context

The phrase "amount of premium" primarily functions as a noun phrase specifying the cost or sum associated with a premium, often in financial or insurance contexts. Ludwig AI indicates that this phrase is grammatically sound.

Expression frequency: Very common

Frequent in

News & Media

45%

Science

25%

Formal & Business

15%

Less common in

Encyclopedias

5%

Wiki

5%

Social Media

5%

Ludwig's WRAP-UP

The phrase "amount of premium" is a grammatically correct and commonly used phrase that helps to clearly specify the price of premium in financial and insurance contexts. According to Ludwig AI, the phrase is grammatically sound. It is most frequently found in "news & media", "science", and "formal & business" contexts. Alternatives such as "premium amount" or "total premium" can be used depending on the context, but it's important not to confuse it with "premium benefits". Using "amount of premium" ensures clarity when discussing costs and financial obligations related to insurance or investment options.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

premium amount

Reorders the words for a slightly different emphasis.

total premium

Specifies that the entire premium is being considered.

premium sum

Replaces "amount" with "sum", indicating a total value.

premium value

Substitutes "amount" with "value", focusing on the worth of the premium.

level of premium

Uses "level" instead of "amount", suggesting a specific tier or rate.

cost of premium

Highlights the expense associated with the premium.

premium payment

Focuses on the act of paying the premium and its size.

premium price

Emphasizes the price that one must pay for the premium.

size of premium

Highlights the magnitude or extent of the premium.

quantum of premium

Uses a more formal term, "quantum", to refer to the quantity of the premium.

FAQs

How is the "amount of premium" determined in insurance?

The "amount of premium" is typically determined by factors such as risk assessment, coverage level, and policy terms. Insurers evaluate these factors to calculate the cost required to provide coverage.

What are some alternatives to using the phrase "amount of premium"?

You can use alternatives like "premium amount", "total premium", or "premium cost", depending on the specific context.

Is it correct to say "premium amount" instead of "amount of premium"?

Yes, "premium amount" is a grammatically correct and commonly used alternative. The choice between the two often depends on stylistic preference.

What is the significance of understanding the "amount of premium"?

Understanding the "amount of premium" is crucial for budgeting and financial planning. It allows individuals and organizations to compare costs, assess affordability, and make informed decisions about insurance coverage or investment options.