The amount which the insured pays the insurer periodically is

The amount which the insured pays the insurer periodically is called the "premium". It is the cost of the insurance policy, and it can be paid on a monthly, quarterly, semi-annual, or annual basis depending on the agreement between the insurer and the insured. The premium is calculated based on the type of insurance coverage, the amount of coverage, the insured's risk profile, and other factors that the insurer considers relevant. The insurer uses the premiums collected to pay claims, administrative expenses, and earn a profit.