The premium can also contribute to growing the cash value inside a permanent life insurance policy.
You can pay the policy premiums at your convenience by selecting the payment option that fits your situation.
The most common premium payment options are monthly, quarterly, semi-annual, or annual.
However, many consumers who buy life insurance policies choose to have the premiums deducted from their bank account on a monthly basis, so they never miss a premium payment.
Learn more about life insurance premium payment options.