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Home / Policy Services / Revival

Revival

Introduction:

When the premium is not paid within the days of grace, the policy lapses, but may be revived during the lifetime of the assured, but within a period of five years from the due date of the first unpaid premium and before the date of maturity.

The grace period in the case of yearly, half yearly and quarterly mode of payment is one month but not less than 30 days and in the case of monthly mode of payment is 15 days.

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