Your monthly payment to a life insurance company is called a “premium.”
Your first premium
Your first month's premium is collected as soon as you sign-up. It is the final step to activating your policy.
As soon as the premium is collected, your policy is in effect.
The actual policy itself will become available for download a few minutes later.
Your monthly 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) you will enter a 30 day grace period. We’ll send you instructions on how to update your payment info. Your policy is still in effect during this period.