What is the payment schedule for the monthly payment options?
The first month's insurance premium is charged to the payment card on the day the policy is purchased. The preceding 11 payments will occur on the same date in each month following.
For example, if a policy is purchased on May 23, then your client can expect the following payment schedule:
May 23 (Date of binding)
June 23
July 23
August 23
September 23
October 23
November 23
December 23
January 23
February 23
March 23
April 23
Each month, the payment card will be charged the same amount.
While we don't offer a printout of the payment schedule, the payment receipt is available in the Exchange for download.