FAQs

Life Insurance

23 Jan 2003

fjrigjwwe9r3SDFAQs:FAQCont

According to LIC rules and regulations, once you pay the premiums on a life insurance policy for 3 full years, the policy does not become wholly void even if no subsequent premiums are paid. Such policies are known as paid-up policies. In such cases, the sum originally assured is reduced to a sum bearing the same ratio to the full sum assured as the number of premiums actually paid to total number of premiums originally stipulated as payable under the policy.

If 6 out of the originally stipulated 30 premiums are paid, the sum assured under a paid-up policy would still be 20 percent of the original sum assured by the policy.

CONTACT:

Corp Off. Shop_2, Palika Niwas,
Lodhi Colony, New Delhi- 110003, INDIA
+91 9811083803
+91 9311083803
rajiv@richinsurance.in
richcare@richinsurance.in

Subscribe for Newsletter

Go

Copyright © 2024 Design and developed by Fintso. All Rights Reserved