---
title: "What Is Modal Premium? Definition | Epic Life Glossary"
description: "A modal premium is the payment amount for a chosen schedule, or mode, such as monthly, quarterly, or annual. Carriers often charge a small fee for more..."
url: https://epicline.preview.multisites.ai/glossary/modal-premium
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Policy mechanics

# Modal Premium

A modal premium is the payment amount for a chosen schedule, or mode, such as monthly, quarterly, or annual. Carriers often charge a small fee for more frequent payments.

## Why it matters

The annual premium is often the cheapest total. Monthly payment is easier on a budget but may add a modal charge. Some carriers need bank draft for monthly payments. Agents should show the cost of each mode so a family can choose with open eyes. Fees and options vary by carrier and state.

Source: [naic.org](https://content.naic.org/article/consumer-insight-life-insurance-roadmap)

[Read next, for familiesHow much does life insurance cost, and what drives the price?](https://epicline.preview.multisites.ai/life-insurance/cost)

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