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How do I pay my premiums?

Currencies

You can pay your premiums in US dollars, pounds sterling, or Euros. The currency in which you pay your premiums is also the currency in which we denominate the benefits of your policy.

Payment methods

You can pay your premiums by credit/debit card or bank transfer. If you pay your premiums in pounds sterling, we can collect your premium from a UK bank account by direct debit.

Here are the options for paying for your premium:

Method Frequency Important information
Annual instalments
  • Bank transfer
  • Credit/debit card
  • Direct debit
Paying annually is the cheapest way to pay your premiums
Monthly instalments
  • Credit/debit card
  • Direct debit*
We add a 5% surcharge if you pay your premium in monthly instalments
Quarterly instalments
  • Credit/debit card
  • Direct debit*
We add a 5% surcharge if you pay your premium in quarterly instalments
Half-yearly instalments
  • Credit/debit card
  • Direct debit*
We add a 3% surcharge if you pay your premium in half-yearly instalments

* If you pay your premiums in pounds sterling

Changing your payment method once your policy has started

If you pay your premium in annual instalments, you can switch easily between bank transfer or credit/debit card as your payment method.

If you pay your premiums in monthly, quarterly, or half-yearly instalments, you can switch from bank transfers or direct debits to credit/debit card payments.

If you pay your premiums in quarterly or half-yearly instalments, you can switch from debit/credit card payments to bank transfers. It’s not possible to switch from debit/credit card payments to bank transfers if you pay your premium in monthly instalments.

Changing your premium instalments once your policy has started

Switching between instalments once your policy has started can be tricky because each instalment has a different surcharge. Switching between quarterly and monthly instalments is no problem, because the surcharge is the same. Switching to annual instalments or from half-yearly instalments to quarterly or monthly instalments is best done at renewal.

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