40-30-30

Most pay plans are on one year policy terms. If you have started a new policy then you will have to determine how you are going to pay for it. If you want a six month policy then there will be less options to choose from.

The 40-30-30 is an optional pay plan that many companies offer … 40% down and two payments 30% 30 days apart. Some companies allow more than 30 days between payments.

You also have the option to pay for the policy in full. Some companies will offer incentives such as air miles or free monthly payment plans. Ask your broker or agent as to what choices they can provide to suit your needs.