A) The amount the policyholder must pay out-of-pocket before insurance coverage begins.
B) The maximum amount an insurance company will pay out for a covered loss.
C) The regular payment made by the policyholder to maintain insurance coverage.
D) The total sum of money the policyholder receives if they cancel the policy early.
Explanation
An insurance premium is the amount of money an individual or business must pay for an insurance policy. It is typically a recurring payment that ensures the policy remains active and provides coverage.
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