Flex Plan: Premiums
Minimum premium
This depends on the currency of the Plan.
| Currency |
Minimum Annual Premium |
Minimum Single Premium |
|
Danish Krone |
20,000 |
50,000 |
|
Euro |
3,000 |
7,500 |
|
Norwegian Krone |
20,000 |
50,000 |
|
Sterling |
2,000 |
5,000 |
|
Swedish Krona |
20,000 |
50,000 |
| US Dollar |
3,500 |
8,750 |
The minimum single premium is waived when the policy is written in conjunction with an annual premium.
Frequency of Premiums
These can be paid quarterly, semi annually or annually. A single premium can also be added on a premium due date. Paying premiums on a more frequent basis gives more opportunities to review and amend premiums and benefits.
Increasing, decreasing or stopping premiums during the lifetime of the policy
The premiums can be increased, decreased or stopped on a premium due date and must be amended prior to the settlement of any invoice due on the date of amendment. When premiums are stopped, the Flex Plan will be paid up and cannot be restarted.
Changing premium frequency during the lifetime of the policy
The premium frequency can be changed on a premium due date and must be amended prior to the settlement of any invoice due on the date of amendment.
Premium collection
An invoice is sent out prior to each premium due date. Before settling the invoice on that date, you have the opportunity to:
-
Change the insured benefit
-
Increase or decrease the premium
-
Change the premium frequency
The invoice must be settled by bank transfer. We do not accept cheques, bank drafts or cash.