Kanetix Forum

I'm interested in getting life insurance. What are my payment options?

I found the following information looking around the Canadian Life and Health Insurance Association website:

Most often, people choose to make payments on a monthly basis. These payments are usually made through automatic bank withdrawals.

It is also possible to arrange to make payments annually, semi-annually, and quarterly.

If you chose to pay down your policy in a shorter amount of time, you're payments will obviously be bigger upfront, but afterward, your policy is free and clear.

If you are new to getting insurance, you might want to check out the Canadian Life and Health Insurance Association site (http://www.clhia.ca/e7_2.htm) You might find the down-loadable brochure, "A guide to life insurance" helpful.