Premium Mode

Premium Mode refers to the frequency at which the policyholder is required to pay the premiums. Different premium modes can include monthly, quarterly, semi-annually, or annually.

The choice of premium mode can impact the cash value accumulation and overall cost of the policy, as some insurers may offer discounts for less frequent payments.

For instance, paying premiums annually might result in lower overall costs compared to paying premiums monthly. Policyholders should consider their budget, cash flow, and the potential impact on their policy's performance when selecting a premium mode.