India Today

The perils of stopping your life insurance premium

Discontinuing your life insurance premium abruptly will put your life cover and other policy benefits at risk.

Do you know what happens to your insurance policy when you stop paying premium? Does it continue to offer insurance cover? Abruptly stopping payment of premium because you are unhappy with the policy or facing a financial crunch without considering the consequences is unwise.

Life insurance is a long term agreement, so if the policy is discontinued midway, the maturity benefit is interrupted and not received. If circumstantces perevent you from continuing your traditional life insurance policy, follow these options:

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