What is the meaning of Annualized Premium?

The premium which is paid annually is called the annualised premium. Insurance policies come up with many options to pay a premium which can be paid monthly, quarterly, bi-annually or even annually. It is the choice of the insured person to pick any one option for the premium.

E.g. if the monthly premium of any insured person under any insurance policy is Rs. 1000, then the annualised premium will be 1000*12=Rs. 12000.