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Term plan payment options

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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?

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1 Answer

19 Oct, 2020

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.

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