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The definitions contained herein are for general information only and are not
designed for use in connection with the interpretation of any insurance policy
or annuity policy issued through Insurance Answer Center.
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Life Insurance Glossary Terms 4 A B C D E F G H I J K L M N O P Q R S T U V W Y |
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Mode of Premium Payment |
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This is the frequency with which a policyowner elects to pay premiums. Frequency options are typically annual, semi-annual, quarterly and monthly on term insurance and permanent life insurance policies. Premiums paid more frequently than annually may be slightly higher (on an annuitized basis) than annual premiums because less interest is earned and additional expenses are incurred. Also known as Payment Frequency, Payment Options or Premium Frequency. |
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Learn More about Life Insurance
Start a Life Insurance Quote
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| Answer Financial(R) Inc. offers insurance products and services through its licensed affiliates Insurance Answer Center(R) Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc., and other affiliates. Answer Financial is not an insurance company. Insurance plans and services are from insurance companies and other licensed insurance-related providers. Not all products available in all states. Rates subject to change. |
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