When you buy a life insurance policy you choose which premium payment option you want in order to pay your life insurance premiums. Usually, you can choose among monthly, quarterly, semi-annually, and annual premium payments.
Some life insurance carriers may add on a finance charge, or have a higher premium if you pay monthly, since they aren't getting all of the money up front, as when you pay once per year, at the beginning of your policy term.
So, it may cost you more to pay premiums on a monthly basis compared to once per year - annually.
Here's how you can request free quotes for term life insurance to find out how much more overall it would cost for monthly premiums compared to annual premiums. When you compare life insurance rates they provide you with all of the different premium payment options available.