The amount paid by the assured to the insurer is called?

The amount paid by the assured to the insurer is called a premium. A premium is a regular payment made by the policyholder (or assured) to the insurance company (or insurer) to maintain their insurance coverage. In exchange for the premium, the insurer agrees to pay out a specified amount of money to the policyholder or their beneficiaries if the insured event, such as an accident or illness, occurs. The premium amount is determined based on various factors, such as the type of insurance, the coverage amount, the policyholder's age and health, and the insurer's risk assessment.