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Life insurance terminology shouldn't be confusing. Here is the definition of premium.
The cost of purchasing the policy. This can be paid monthly, quarterly, semi-annually (every six months) or annually (once per year).
Depending on the policy type purchased, premiums can be: level (stay the same for the life of the policy); attained-age (rate changes after each birthday); community-rated (the same for everyone in a particular area); age-banded (the same for everyone within the same age group or range), or various other methods.