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How can you revive a lapsed policy?

Thursday, October 26, 2017, 11:23 AM

If you have failed to pay your insurance-premium, your policy will be transferred to a grace-period status, where ideally the insurance-company is still accountable for paying the sum-assured if a valid claim is filed for a death of the insured during this time period. Usually, an insurer will give you a grace period of 30-days for half-yearly and yearly payments, and 15-days for monthly-payments.
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