There are various premium paying options on a whole life policy. You can exercise the options of paying premiums throughout the policy term of a whole life policy, for a limited term, or via a single, lump sum premium.
All insurers allow premium payments to be made at quarterly, half-yearly or annual installments. Some also collect premiums monthly. Typically, the higher the number of installments, the higher will be the total premium paid out.
A certain part of the premium gets allocated towards the sum assured. Some portion of the premium is allocated towards the administrative expenses of the insurance company selling the policy. The remaining portion of the premium gets invested.
Whole Life Premium: Basics
Whole Life Premium: Opinion
- How much do you pay to cover your financial liabilities with life insurance?
- Whole Life Insurance Plans
- Do I need life insurance?
- Returns on Whole Life Policy vs. Inflation Calculator
Do the returns on my whole life policy beat inflation?
- Should I Continue My Whole life Policy?
Use this calculator to find out if you should continue your whole life policy or invest the premium amount saved in other avenues.
- Endowment vs. Whole Life Comparator
Use this comparator to compare a whole life insurance policy and an endowment policy.
- Insurance Planner
Use this calculator to find out how much life insurance you need.