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.