If the person holding the policy has been paying the premium continuously for full three policies year and discontinued paying premium of the policy one after another. And in the event of the demise of the life insured within 6 months from the due date of first not paid premium the policy, money will be paid full after deduction of unpaid premiums. With interest up to the date of demise. In other case if the person holding the policy has been paying the premium continuously for full five policies year and discontinued paying premium of the policy one after another. In such case if the life insured person expire then within 12 months from due date of FUP (first unpaid premium), money will be paid full after deduction of unpaid premiums. With interest up to the date of demise.
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What is concession for claims during lapsed period?
