How Much Does It Cost To Start Life Insurance? 
Most people buy life insurance policies on a monthly , quarterly , semi-annually or annual payment plan . When you start your policy , you pay the first premium and keep paying it for as long as you want the policy to be in effect . If you buy Whole or Universal Life , you have the option to pay one premium at the start of the policy that will keep your policy in effect for the rest of your life . Obviously , this option costs much more at the start than paying on a regular payment plan , and very few people can afford that option . But over the duration of the policy , paying a single premium can save you money . 