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How does billing work for term life insurance?

Learn more about the premium payments that keep your policy active and in force.

Written by Kaycie Gaige
Updated today

How does billing work?

Your life insurance payment is called a premium and is charged monthly using your saved payment method. As long as your payments are up to date, your policy remains active (also called “in force”).


Monthly payments

  • Your premium is charged monthly on the same date as your first payment

  • We accept all major debit and credit cards

  • You’ll receive an email confirmation for each successful payment


Payment options

  • Payments are monthly only

  • You’re not able to change your billing date


If a payment is missed

If a payment doesn’t go through, we’ll notify you and continue attempting to collect payment.

👉 For more details on what happens next, including grace periods and reinstatement, see: What if I miss a premium payment?

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