Life insurance is a policy that protects your family financially. Perhaps the best time to buy the policy is your youth! There is a difference between a 25-year-old man taking a life insurance and a 55-year-old man buying the policy. As a youngster, you have a better fitness level and enough years to pay the premiums.
Speaking of premiums, they are locked and cast in stone right at the start of the life insurance policy. There is a massive benefit of making payments on time, and you can do so with direct debits.
The question is – What is life insurance direct debit? It brings us to the next question – Why does it matter?
What is Life Insurance Direct Debit?
When we speak of direct debit, it is an auto-debit provision that can be utilized to pay the monthly premiums straight from your bank account. Since the premiums are locked from the start, the amount will get deducted from your bank every month. This saves you from spending additional time! Everyone runs a busy life, and making monthly payments can be time-consuming. With direct debits, you have to remain stress-free.
The Importance of Making Payments
Paying monthly premiums will ensure that your life insurance is still running. You walk into a store and find a beautiful furniture piece – an exquisite bed. What would you choose? Pay the monthly premiums or buy the exquisite furniture piece? Perhaps you could do both, but life insurance is important for your family.
Once you bid adieu to the world, the lump sum payout will be in the hands of your future grandchildren and children. Keeping a golden egg for your children and surviving partner is basic and necessary.
Some people may have issues with direct debits as financial crises could crop up anytime!
In this case, you could call up the insurance company and take a payment break. It is all about priorities! By making direct debit payments, you are securing your family’s future expenses. Direct debit insurance premium makes it easier for you to pay the monthly premiums!
Sit down and plan your monthly budget. Also, buy a life insurance policy in your youth! The premiums will be much lower, and there will be less dent on your bank account.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00