POSTED BY December 1, 2013 10:59 pm COMMENTS (2)
ONWhat is the issue if one pay the insurance (like LIC classic policy Ex: Jeevan Anand etc or Aviva iLife Term Life) premium after the due date, with in one month of the due date. I think all insurance provider gives 1 month grace period and we can pay during the grace period. Please let me know all Pros and Cons of this situation.
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Dear InvQ, if death happens before paying your prem. there may be problem in claim settlement. that’s the only issue.
Thanks
Ashal
There are no cons of paying your premium within grace period.
Thanks
Swapnil