Actually, there are several options you may be able to choose from depending on the insurance company. Most insurers offer you several payment options to use when paying your premiums.
Yes, you can purchase life insurance using a credit card with some insurance companies.
Premium Payment Options
Upon applying for a policy and being approved for life insurance you will be asked how you wish to pay your premiums. Below are listed several common payment options:
- ETF – Electronic Direct Transfer from your checking account to the insurance company.
- Debit Card – Direct debit from your savings account.
- Credit Card – You may select one of the approved credit card companies.
- Check – You may send a check to your insurer to pay your premium.
Here's how to learn more about buying life insurance with a credit card.