Do I pay insurance premiums monthly or yearly?
Is it better for me to pay for my insurance premiums monthly or yearly?
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The bulk of that decision lies with your cash flow plays a major part in determining if you pay monthly or yearly. If you choose to pay monthly as a result of cash flow, you will have the advantage of easier expenses tracking but the disadvantage of losing the discount in the process. The discount varies from 1% to 3% and the policy paid for. For yearly payment, you will have to pay about 3% more than if you had paid monthly. So it is really up to your cash flow position.