facebookDoes changing the billing frequency from monthly to annually reduce the amount paid for endowment plans with prudential? - Seedly

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Anonymous

08 Oct 2020

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Insurance

Does changing the billing frequency from monthly to annually reduce the amount paid for endowment plans with prudential?

Discussion (3)

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PolicyPal

08 Oct 2020

Official Account at PolicyPal

Generally, for insurance premiums, paying annually is cheaper than monthly. Paying annually would likely save you a bit of money β€” however, paying monthly would be easier on your cashflow if the premiums are substantial.

If you require more information, do feel free to get in touch with us.

On a general note, annual plans premiums are lower by 2% as compared to other payment frequencies.

Elijah Lee

02 Oct 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

All things equal, regardless of which insurer, you will save a small amount when you chang...

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