If either of the lives dies first, the life insurance cover for 2nd life will continue till his / her death / exit or till next renewal date. (avivaindia.com)
In case there is a claim, cumulative bonus gets reduced by 10 % of the sum insured at the time of next renewal. (policybazaar.com)
I used to renew my two wheeler insurance policy online itself from ICICI Lombard online portal and done necessary set up to get a reminder for next renewal date. (mydailylifetips.com)