The quick answer is NO. You can choose to pay annually, semi annually, quarterly or monthly, monthly being done by automatic bank draft. Those are called payment modes. Annually is the least expensive, but the most important choice is what works with your budget. When you start the application process you don’t have to commit to how you will be paying once the policy is in force. Once the application is approved you can decide which mode will work best for your budget.
The Hinerman Group
My 20 years of experience give me the knowledge and leverage to find reasonably-priced life insurance for people who have been declined or are paying more than they need to. Request a Free Consultation Today!