Pay-As-You-Go Plan
Plain English Definition: An insurance payment plan where premiums are paid periodically, typically monthly, instead of a lump sum.
What Pay-As-You-Go Plan really means for someone with an insurance policy
This plan allows policyholders to manage premium payments in smaller, more manageable amounts rather than paying all at once.
Pay-As-You-Go Plan Real World Examples
- Monthly health insurance payments.
- Auto insurance premiums paid every month.
- Homeowners insurance premiums paid quarterly.