Frequently asked questions?


How do I pay my premium?

Myterm.com serves as an intermediary between you and the insurance company, so you will never pay us money directly. All checks should be made out to the insurance company that is providing your coverage. There are different options for paying your premium. You can be billed direct annually, semiannually or quarterly, or your payment can be drafted from your checking account monthly.

If you want conditional or binding coverage during the underwriting period, please ask your online specialist. This will require immediate payment, but gives you the security of knowing you have conditional coverage until the underwriting process is completed. Conditional coverage has limits. Most companies limit the coverage to $250,000 to $500,000. Additionally, if it is determined during the underwriting process that you are not a standard underwriting risk, the insurance company may return your money and no coverage will be in effect.