Insurance premiums are the regular payments that keep a policy active and ready to cover potential risks, such as accidents or illnesses. They are typically charged by insurers or, if you enroll through work, by your employer. Actuaries use a combination of factors to determine premiums, balancing risk management with competitive pricing and consumer affordability. Shopping around is an important way to find more affordable premiums, and it’s usually possible to do so by using different insurance aggregation sites or working directly with individual insurers.