Sentences with phrase «overdue premiums»

As the time passes, process becomes tough and you may also need to pay overdue premiums along with interest and additional documents, which could include medical tests also.

Many policies also have an «automatic premium loan», provision that is activated to pay overdue premium.

When a policy has lapsed, it can be revived and brought to its full force by payment of overdue premiums (with interest) and a declaration about state of health or fresh medical examination.

This allows for the policy holder to pay overdue premiums and for the policy not be canceled outright upon a missed payment.

With respect to written service, we added translations of our overdue premium and reminder notices to the list of forms we offer in French.

Assuming you can prove continued insurability, pay off the overdue premiums plus interest, and cover any outstanding loans against the cash value, some life insurance companies will let you reinstate a policy within a certain time period.

If you do not pay the overdue premium payment within the grace period your term policy will terminate.

The policyholder will have to pay all overdue premiums with late payment fee and / or interest.

However, if you revive the policy after six months, you may be asked to pay the overdue premium, penalty charges, as well as interest payment that could be 12 % -18 % of the total premium.

However, if you do not pay premium within this duration and as long as your policy has cash value, LIC will automatically pay your overdue premium by taking a loan against the policy.

Payment of all the overdue Premiums including service tax and other taxes, levies or cesses along with late fee determined by the company.

Your policy can be reinstated with payment of the overdue premium, but after a certain amount of time (usually 15 days after the end of the grace period) there will be limitations to your policy reinstatement, so this is a crucial section to read.

The time, usually 30 - 31 days, following the premium date, during which you can pay an overdue premium while keeping your insurance policy in force throughout this period.

Only upon certain conditions will the holder be able to reinstate the policy where in payment for all overdue premiums should be settled.

A lapsed policy can be revived upon written request, produces evidence of insurability and on payment of all overdue premiums.

A lapsed policy can be revived upon written request, produces evidence of insurability and on payment of all overdue premiums within 2 years from the date of first unpaid premium.

A lapsed Policy can be revived within 2 (Two) years from the due date of the first unpaid Premium via written request on producing an evidence of insurability at the policy owner's cost and on payment of all overdue Premiums (along with the service tax or any other taxes, cesses or levies, if any subject to the approval by the Co..

You can contact your insurer and make the overdue premium payment (including any interest) and get it revived

In addition, you will likely have to pay all of the overdue premiums as well as interest on the amount owed.

The lapse charges include overdue premium, taxes, late fees (penalty) and interest.

However, if this Policy has acquired a Surrender Value and upon non-payment of the overdue Premiums by You till the expiry of the grace period as specified in Section 9.10 above, then, this Policy shall not lapse and shall by default become a Policy under Reduced Paid Up Mode.

on payment of all overdue Premiums (along with the service tax or any other taxes, cesses or levies, if any) to Us with late fee and / or interest at such a rate as may be determined by Us from time to time.

Policies with a cash value, such as whole life insurance, often have a provision that allows the carrier to borrow from the policy value to pay overdue premiums.

Policyholder paying all overdue premiums, together with interest and / or late fee determined by the Company from time to time (currently 8.0 % per annum);