In finance, the term “premium” has two meanings.

Most commonly, it denotes regular, recurring payments made in exchange for insurance coverage. In Switzerland the most common premiums are the health insurance premiums paid for compulsory health insurance.

Premiums also apply to supplemental hospital insurance, out-patient insurance, travel insurance, car insurance, motorcycle insurance, legal expense insurance, pet insurance, household insurance, liability insurance and life insurance. The premiums you pay are documented in your insurance policy.

Secondly, the Swiss banking sector sometimes uses the term “premiums” in reference to bonus points or rewards which can be redeemed for discounts or merchandise. Two bank products which commonly offer premiums in the sense of rewards are bank packages and credit cards.

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