Discounted Rates for 3 Year Terms

[Bond Magician]

The State that I live in is only requiring a one year term, but can you issue the bond at a discount if I want to get the bond for a three year term? Or is it always based on the State's requirements?

[Mother Bond]

Originally Posted by Bond Magician

The State that I live in is only requiring a one year term, but can you issue the bond at a discount if I want to get the bond for a three year term? Or is it always based on the State's requirements?

Even if the state only requires a one year term, you can still prepay for 3 years. Depending on which program you are approved through, you may be entitled to a discount on the 2nd and 3rd year's premium. It is best to check with your agent to find out if a discount would apply.