This English term is defined here with a very specific meaning, When used in its general sense, it means "a sum added to an ordinary price or charge." That broader sense of the term would encompass this German term.
There are multiple definitions - click on the translation that matches your context.
the amount paid by the policyholder (=the purchaser of an insurance policy) to the insurer (=the party who provides insurance) for the insurance policy
In order for the insurance policy to enter into force, the premium must be paid by the due date.