Your monthly life insurance payment is called a premium. When your payments are up to date, your policy is considered “in force,” or active. If you get behind on your premium payments, then your policy could lapse, and your coverage could end.

Your first premium

Your first month's premium is collected as soon as you enter your payment information after receiving a final offer. It is the final step to activate your policy. 

As soon as the premium is paid, your policy is in effect.

Often times, the actual policy itself will become available for download a few minutes later. There are some instances, though, where it can take between 1-3 business days for the policy to be available. If you do not receive an email notifying you that the policy is available for download, please reach out to our Customer Success Team to let us know.

Your monthly life insurance premiums moving forward

Your card will be charged monthly on the month-aversary of your first premium payment.

If for any reason that payment fails (say, for example, you’ve changed credit card companies and forgot to update your info) you will enter a 31-day grace period. At that point, we’ll send you an email reminder along with instructions on how to update your payment info. 

Your policy is still in effect during the grace period. After that time frame has ended, however, your coverage will lapse.

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