Most policies allow a grace period after the due date during which cover continues. Beyond that the policy lapses and cover stops. Depending on the product and how long it ran, it may be revivable within a defined period, sometimes with interest and fresh health declarations.
Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.
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