David pays $5,400 per year to an insurance company in return for its promise to pay part of his family's medical bills. The $5,400 is David's:

Name: David pays $5,400 per year to an insurance company in return for its promise to pay part of his family's medical bills. The $5,400 is David's:
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Question

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The $5,400 that David pays to the insurance company is his premium. This is the amount that he pays annually to maintain the insurance policy that will cover his family's medical bills.

David Pays $5,400 Per Year to an Insurance Company in Return