Failure to pay the premium of a life insurance policy before the due date results in the policy lapsing. The cover ceases to be available once the policy lapses. It is possible to revive a lapsed life insurance policy subject to fulfillment of conditions. Life insurers also come up with special campaigns for revival of lapsed policies with concession or waiver of penalties.
- Time
- Visit insurer branch
- Medical report
- Unpaid premium
- Penalty
- Points to note
Read more at:
//economictimes.indiatimes.com/articleshow/62859128.cms
//economictimes.indiatimes.com/articleshow/62859128.cms
