What are life insurance premium payments?
Premiums are the price you pay to the insurance company in return for the life insurance coverage provided by the insurer.
Usually, you may choose one of several payment options or modes of payment: Monthly, Quarterly, Semi-Annual, or Annual payments.
Make sure you pay your premiums on time so you don't let your life insurance policy coverage lapse, which would put your insurance in jeopardy of no longer being In Force.
You can set up automatic premium payments from your bank account to go directly to the insurance company so you don't miss any premium payments.
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