Mode of Premium Payment

Written by  //  June 23, 2011  //  Insurance Glossary: E-M, Insurance Terms  //  Comments Off on Mode of Premium Payment

This is the frequency in which a policyowner elects to pay premiums. Frequency options are typically annual, semi-annual, quarterly and monthly on auto insurance policies. The monthly option may be slightly higher than semi-annual premiums because additional expenses are incurred.

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