When changing the payment frequency of your policy to a longer term than previously chosen, payment of remaining premiums will be required for the changes to take effect.
This is because changing to a longer payment term will result in a period of cover where the premium has not been paid for.
This is applicable to the following scenario (your current payment frequency à frequency you want to change to)
- Monthly > Annually, Semi-Annually, Quarterly
- Quarterly > Annually, Semi-Annually
- Semi-Annually > Annually
To successfully change to a longer payment term, simply pay the remaining premiums for the policy.
Related FAQ: Learn about changing of payment method from a longer frequency to a shorter frequency.