Insurers should send a notice to the discontinued policy holder within 15 days from the date of expiry of the grace period. (indianexpress.com)
If the due premiums are not paid within the grace period, a revival notice will be sent to the policyholder within fifteen days from the date of expiry of the grace period. (reliancenipponlife.com)
If policy holder fails to pay the premium even after the expiry of grace period, the policy status will be changed to lapse or Paid - Up depending on the year in which the policyholder fails to pay the premium. (hdfclife.com)