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Paying Monthly Life Insurance Premium charge 10.80%

Started by KCLau · 1 year ago

For traditional insurance policy, the life assured can either pay yearly, half-yearly, quarterly, or monthly.If the yearly premium is RM1000/year,the monthly premium = RM1000 x 1.05/12 = RM87.50 (total 5% extra)the quarterly premium = RM1000 x 1.03/4 = RM257.50 (total 3% extra)the half-yearly premium = RM1000 x 1.02/2 = RM510.00 (total 2% extra)

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