Disability Insurance Premiums: Which Payment Method is Best?
Jun 21, 2015
Jamie Fleischner

Jamie Fleischner

21 Jun, 2015

When you purchase an individual disability insurance policy, you may choose to pay monthly, quarterly, semi-annually or annually.

Take a close look at the options to determine what is best for you.

Most companies require monthly premiums be paid from an automated bank draft method. Some companies will discount the premium if you pay annually. This can save you from 2-4% depending on the company.

Typically the most expensive payment method is quarterly or semi-annually.

Look at the options closely to determine what method makes most sense to you both financially and for your cash flow.

Related Posts

When is it Time to Drop Your Disability Insurance Policy?

When is it Time to Drop Your Disability Insurance Policy?

So much is written about when and how to purchase an individual disability insurance policy. However, little has been written about when to drop the policy. When to buy. It is important to protect your income when you are dependent on your earnings. If you and/or your...

We’re here to help

Getting the right disability insurance can be downright confusing. At Set For Life, we’ll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we’re happy to walk you through it! If you’re ready to get set, reach out for a quote today!