General insurance What's your preferred selection? weekly, monthly, annually payment for your insurance policy?

[sincerem]

Period of payment differs due to the preferred method the insured wants to use to keep his or her insurance premium policy running. Some do pay weekly, than monthly or annually, it depends on their schedule and preference. Whereas others choose monthly or annually for making payments to get their insurance premium policy running. It simply depends on how they get the funds to cover up for the expenses of their insurance policy.

I simply prefer the monthly payment option. Here in my country workers both private and public do receive payments monthly. And the best time to pay for their premium policy plan is during the month end. It can happen that way to me, when i secure a white collar job tomorrow, owning an insurance policy, that will push me making monthly payment for my premium policy plan.

Which method will you go for?

 

[Jamoflondon]

Speaking of premium payments, I think the best one is the monthly type. Because most workers in my country are paid in every thirty days. Which is called salary pay. If you choose this it will be very easy for you because all you have to do is set your bills alert to it.

 

[btaliat]

Just because of the reason you stated above, paying monthly will be better. This is because it will be easier to pay the money monthly. But if I happened to be a business mogul, I would have loved to pay every premium I need to pay once and for all

 

[Mandy96]

In my opinion I think yearly premium payment is the best. It gives room for the person to plan for the next pay without having to to think of early bill. Although the disadvantage is that the money will pile up and the amount might be heavy to pay up

 

[Wisdom01]

I will choose the monthly payment own because whenever I get paid , the money would be easily deducted from my salary by me , and I won't start thinking of paying huge amount at the end of the year just taking note of the burden too which is too much

 

[sincerem]

Speaking of premium payments, I think the best one is the monthly type. Because most workers in my country are paid in every thirty days. Which is called salary pay. If you choose this it will be very easy for you because all you have to do is set your bills alert to it.

You're there that's the one I prefer too due to the monthly salary duration on our country. You'll get to be satisfied with the monthly payment of the policy plan cos that's the specific duration of time workers do receive salary. You can be a worker tomorrow and you'll definitely prefer what shit your salary pay day.

 

[btaliat]

In my opinion I think yearly premium payment is the best. It gives room for the person to plan for the next pay without having to to think of early bill. Although the disadvantage is that the money will pile up and the amount might be heavy to pay up

You are very correct. But the yearly plan may be difficult to pay especially for someone that is a salary earner. This is because salary earner earn money every month only and it may be difficult to get extra money. But for a business person, it is better to be doing it every year.

 

[Phabbyfundz]

I would like to state that you insurance policy plan or method of payments totally depends on the person or individual. Your working condition or how you can afford to pay for, either weekly , monthly, yearly or even daily plan . I would say this is a matter of choice and your source of incomes you can actually pay for any plan that suits you .

 

[btaliat]

I would like to state that you insurance policy plan or method of payments totally depends on the person or individual. Your working condition or how you can afford to pay for, either weekly , monthly, yearly or even daily plan . I would say this is a matter of choice and your source of incomes you can actually pay for any plan that suits you .

That's also correct. The pocket of the individual will determine the way he or she will like to en paying the premium. Someone who is very rich and the insurance is of keen interest to him may determine to pay the premium every year and forget about it while someone that collects salary will have to be paying every month.

 

[Alexandoy]

I don't know if there is a weekly payment of the premium here. A friend who is an insurance broker was offering us a policy that we pay monthly. My wife availed of a policy for 5 years that she paid the premium every month. When the term ended my wife received the principal plus the interest that her premium had earned.

 

[Augusta]

I think the monthly payment plan will work for a lot of people because a lot of people involved in insurance stuff are mostly workers that really know what it entails and why they should take out insurance. So yes they will want to have monthly payment same with me too

 

[uforwealth]

Speaking of premium payments, I think the best one is the monthly type. Because most workers in my country are paid in every thirty days. Which is called salary pay. If you choose this it will be very easy for you because all you have to do is set your bills alert to it.

Preference for a time to pay premium depends mainly on how rich a person is and his future needs.
If such a person is very rich, he/she can choose any time of his or her choice depending on future demands. A person wallowing in abject poverty is incomparable with those who are so wealthy to the extent that they can buy the whole world.

 

[Deleted member 51169]

Monthly deductions suffices for me, at some point you will get use to it because you will streamline your expenses to suit what remains of your salary after the deductions. Good thing with monthly deductions, is that you save for future and at the same time building a good financial system. If my country pays hourly, I would have preferred weekly payments/deductions.

 

[Chibson]

I will personally prefer monthly payment of insurance because during the end of the month you will know the amount of money you have made and coupled with the fact that some people are being paid salary on monthly basis. So with that factor you can definitely be sure of paying monthly.

 

[Lens1000]

I don't really know if the period of premium payment is optional or if it's specific as stated in the coverage agreement. For me, it were optional, I would prefer monthly premium payments. This would allow me gather enough money for the month the reason is that Most of us earn monthly income. Even if you work online, many would base the amount earned on monthly basis. In a nutshell, I preffer monthly repayments.