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What are the various modes of payment for premium?

April 26, 2017modes payment Premium various

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What are the various modes of payment for premium?

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Premiums other than single premiums, can be paid by the policyholders in yearly, half-yearly, quarterly or monthly installments or through a Salary Savings Scheme. If the mode of payment is yearly or half-yearly, the insurer offers a small discount on the premium amount.