Sentences with phrase «ii policy lapses»
The Amulya Jeevan II Policy lapses if premiums are not paid on time and after that within the grace period.
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The Amulya Jeevan II Plan does not acquire any paid - up value after any number of years that is even if premiums are paid for a certain number of years, say three years, they need to be continued throughout the policy tenure as failure to do so results in policy lapse.
a) Total policy cost if lapsed policy is revived The person would have to pay: (i) One - time payment comprising unpaid premiums for 2 years and late fee equalling Rs 7,799 (ii) Total amount of next 6 premiums till policy matures: Rs 21,822 (Rs 3637 * 6) Total cost of reviving policy and holding till maturity equals (i) plus (ii): Rs 29,621 (including late fee).