INSURANCE USERS' COMMUNITY FORUM

Get answers from experts | Share your experiences.


Term plan payment options

reply Share
19 Oct, 2020 by Abhishek

So my term plan expires next month and usually I used to pay the premium on a yearly basis but I am thinking of going with the monthly payment option. Why is there a difference in the premium by some Rs. 800 when I am choosing the payment option on a monthly basis?

like like
0
Purchase
Opinion

1 Answer

Post
19 Oct, 2020
Manoj Pandey

Normally insurance co extend some rebate on yearly / half yearly premium as the money come in advance & they earn some investment income. In a monthly mode that possibility is not there. So this increase is because of the withdrawal of that payment mode related rebate.

like like
0
icon-comment 0 Comments
icon-reply Reply
Discover the best tips for insurance every week!