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 — 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.

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Aaron Leow

02 Oct 2020

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

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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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What is the result if i were to reduce my monthly DCA w a robo advisor? My risk index is status quo, the only change is the amount that i invest monthly?

I am paying 20k annually for an endowment plans. I would like to cut as the premium is too high. Is it advisable to terminate one of the policies that I already paid first year of 3k with payment year of 15 years?

Are there any way to reduce the amount / amend the frequency of payment for savings plan?

Why is annual premium cheaper compared to monthly for insurance and endowment plan?

Just realised when you register the Elastiq Endowment Plan 3Yrs the amount that you want to store is required to specify. So was wondering can I add on the amount to this endowment plan?

What is the result if i were to reduce my monthly DCA w a robo advisor? My risk index is status quo, the only change is the amount that i invest monthly?

Are there any way to reduce the amount / amend the frequency of payment for savings plan?

Why is annual premium cheaper compared to monthly for insurance and endowment plan?

Just realised when you register the Elastiq Endowment Plan 3Yrs the amount that you want to store is required to specify. So was wondering can I add on the amount to this endowment plan?