Need A Financial Product › Forums › Insurance › What happens if the policy holders fail to make the premium payments?

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • October 2, 2014 at 9:14 am #47698
    Sameer Kapoor
    Participant

    What happens if the policy holders fail to make the premium payments?

    October 6, 2014 at 11:53 am #47699
    samkapoor77
    Keymaster

    The policy holders have a 15-31 days grace period during which they can pay the premium with no interest charged and if they do not pay the premium within this grace period, and as long as your policy has sufficient cash value, the insurance company will automatically pay the overdue premium by taking a loan against the policy’s cash value and this keeps your policy in force but you will have to pay interest on this loan.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.