Life Insurance Premium

The cost or premium of your insurance policy depends on the type and kind of coverage you get under a life insurance plan. Premiums vary from insurance type to insurance type. So, for an identical insurance cover, term insurance premiums are extremely low while money back premiums are extremely high.

Insurers offer many options on paying the premiums. Monthly, quarterly, half-yearly, annual, or one-time all these are premium paying options. Remember, the annual premium-paying option is cheaper than a monthly premium paying option and the one-time premium-paying option is cheaper than the annual one, and so on.