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A life insurance policy lapses or cancels if the insured person does not pay the premium amount even during the grace period. If you have a permanent life insurance policy that has collected cash value, the insurance company drains your cash value to pay your premiums until it runs out after which the policy lapses.
To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:
To download a life insurance policy statement, you typically need to follow the below steps.
Tata AIA Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
Star Union Dai-Ichi Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
Shriram Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
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