If I forget to pay my premium after the premium, is the policy still valid?

If you forget to pay the premium, you don't have to worry, there is also a "grace period". The grace period refers to the insurance contract for the payment of insurance premiums in installments, and the grace period is within 60 days from the date of the insurance company's reminder or within 60 days from the date of each insurance premium due date, unless otherwise agreed in the contract, after the first payment of the insurance premium. If you buy an insurance product that requires long-term premium payment (usually more than two years), in case you sometimes forget to pay the premium, the insurance company will give you a grace period, which is generally 60 days.

During this time, the policy is still in force, and in the unfortunate event of an insurance liability accident, the insurance company is also liable for the payment. Of course, if you get the full payment, you need to pay the premium for the current year. It is important to note that not all insurance products have a grace period, and accident insurance, which is a consumer-based insurance, is generally a one-time payment, so there is no such thing as a grace period.

What should I do if I forget to pay my premium? The policy is still valid during the grace period! Let's first popularize science and a few periods in insurance:

Phase 1: Grace period.

Phase 2: Suspension period.

Stage 3: Termination period.

Cash value is automatically advanced premium.

Phase 1: Grace period.

0 60 days.

Long-term insurance has a 60-day grace period, and if you forget to pay the premium, the insurance liability will still be valid if you pay the premium during this period.

Grace period refers to the grace period within 60 days from the due date of each premium after the first payment of the premium. No interest will be charged on overdue premiums paid here. If the insured dies within the grace period, the insurance is still in force, and the insurer assumes the insurance liability and pays the insurance premium, which is deducted from the current insurance premium payable.

If the grace period has expired and the premium has not been renewed, the policy will be temporarily invalidated and the insurance will not be claimed. Consumers may wish to carefully consult on how to properly use the right to the "grace period" when applying for insurance, so that it can play an important role when needed.

Phase 2: Suspension period.

61 days for 2 years.

If the payment is not made by 61 days, the contract will lapse and the suspension period will begin. After the contract expires, the insurance company shall not be liable for the insured accidents that occur during the lapse period.

Moreover, when the policyholder applies for the reinstatement of the contract, he will not only have to pay the premium, but also the interest, and the interest rate may be slightly higher than the guaranteed interest rate of the policy.

What's more troublesome is that when going through the reinstatement procedures, the insurance company has to re-underwrite, and the insurance company may refuse to reinstate the insurance company if it believes that the physical health of the insured no longer meets the requirements according to the underwriting conditions.

Stage 3: Termination period.

2 years later. If the policyholder still does not apply for reinstatement of the policy after 2 years of forgetting to pay the premium, the contract will enter the termination period. If the policy enters the termination period, the policy can no longer be reinstated, and you can only choose to surrender the policy.

If the policy is surrendered, only the cash value of the policy will be refunded, not all the premiums paid, and the loss to the consumer is not small.

Cash value is automatically advanced premium.

When you purchase an insurance product, you can choose to pay the premium automatically. That is, if the policyholder fails to pay the premium at the end of the grace period, the insurance company will automatically advance the premium due and payable with the remaining amount after deducting the arrears and interest payable from the cash value of the contract, and the contract will continue to be valid.

If the cash value of the policy after deducting the outstanding amount and interest payable is insufficient to pay the premiums due and payable in full, the contract shall be suspended from 24 o'clock on the expiry date of the grace period.

This avoids the situation that if the policyholder is unable to pay the premium in time due to an accident, the policy will lapse and the insured will lose the risk of protection.

Many people will buy multiple insurances for themselves, and may also forget that they have purchased insurance, which will lead to the failure to pay the insurance premium, so that the policy expires, so when the policy is about to expire, does the insurance company have the obligation to remind the insured to pay the premium?

1. There is an obligation to remind.

Under the provisions of the law, the insurance company should remind the policyholder to pay his insurance premium as soon as possible through ** or text message. But this reminder is only a kind reminder, if the insurance company does not remind it is not legally responsible, because it is the obligation of the policyholder to pay the insurance premium on time, which is also stipulated by law. It's equivalent to someone taking the bus, but there is no place on the bus, should the person with the seat give up his seat?

In fact, it is a duty to give up a seat, and it is also a duty not to give up a seatThe same is true for insurance companies, which have an obligation to remind, but this obligation is not mandatory, and it will not be liable if it is not reminded.

2. The policyholder shall pay the premium on time.

3. Summary. Netizens should know that if you don't pay the premium on time, this policy will expire, resulting in no insurance, and even if you have an accident, the insurance company will not compensate you. Therefore, if you buy insurance, you must pay the premium on time, otherwise you will not be compensated for any accident, and the previous premium will be lost, which is very sad.

No, because the staff of insurance companies is limited, and the number of users is relatively large, but some insurance companies will have a reminder effect.

The insurance company has an obligation to remind you, and at the same time, your personal insurance person** is also obligated to remind you that you need to renew your insurance.

When the insurance expires, the insurance company is obliged to remind. Generally, it will be reminded 30 days before the policy anniversary by means of an inquiry. People are also obliged to be reminded in advance.

Insurance, which is meant to be safe and reliable; Later, it was extended into a security mechanism, which is a tool used to plan one's finances. It is the basic means of risk management under the conditions of market economy, and an important pillar of the financial system and social security system.

The policyholder fails to pay the renewal premium as agreed in the contract and fails to pay the premium in full by the last day of the grace period, resulting in the policy being temporarily invalid. First of all, it should be noted that the customer can apply for reinstatement of the expired policy, and after a series of reinstatement procedures, the policy will be restored and the insurance contract will continue to be valid. However, the validity period of the policy reinstatement is generally 2 years, and the insurance contract will be completely invalid if the premium has not been paid for more than 2 years.

During the validity period of the reinstatement of the policy, the policyholder shall prepare the necessary information such as the policy information and identity documents to apply to the insurance company, and the two parties shall reach an agreement to restore the validity of the contract. The insured must pay the premium and interest owed during the period of suspension of the insurance contract.

You only need to keep the expired policy directly, and then you only need to go to some relevant departments to get the policy and continue to renew it. In fact, there is no need for remediation at all.

When faced with an expired policy, we can ask a lawyer because many times the situation is different.

The policy has a termination period, which is 60 days to two years after the payment is stopped, and the policy can be restored as long as the premium and interest continue to be paid.

It is necessary to go to the insurance company to pay the corresponding fees in time, and then go through the corresponding procedures, so that the insurance will not expire.

In such a situation, you should go to the insurance company to renew the insurance in time, so as to make the insurance effective.

The policy is surrenderable after expiration. Expired policy refers to the failure of the policyholder to pay the renewal premium as agreed in the contract and not pay the premium in full by the last day of the grace period (there is a 60-day grace period for each policy). The policy is temporarily invalid.

After the policy lapses, the insurance company will no longer bear the insurance liability, and the policyholder can apply to the insurance company for reinstatement within two years from the date of temporary invalidation of the policy, otherwise, the policy will become invalid permanently. If the policyholder chooses to surrender the policy, the insurance company will only be able to give the "cash value of the policy" to the policy, so the surrender benefit will often be very small.

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Refund can be refunded, but there will be a big loss, and you have only paid for a year, the loss will be very large, because the insurance company will deduct the expenses will be deducted in the early stage, so there will be a situation that the more you deduct the expenses later, the less the cost will be deducted, and the remaining expenses will be deducted from the expense deduction is called the cash value, and the surrender will only get back the cash value.

If you are unable to continue paying the premium due to financial reasons, there is generally a grace period of 60 days, during which the policy is normally underwritten, and after 60 days, it will temporarily lapse, but there will be a 2-year expiration period, during which you can pay the premium again and the policy will be re-effective.

I don't know what kind of insurance you bought, and there is a data source that is not automatically paid? Automatic payment means that you can deduct the premium from the cash value when you do not continue to pay for some reason, but you have only paid for one year, and you believe that the cash value is more. I don't know if I can pay the premium in one installment (as mentioned earlier, the insurance company will charge you upfront).

My advice is: if you feel that you can get the economy back to the original level within two years, you should not apply for a refund and surrender the policy. Instead, you'd better surrender the policy.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these of leaky cover insurance"pits"

If the insurance has expired, you can continue to pay the renewal premium as long as it is within the 60-day grace period. However, if the grace period has been exceeded, the policy will be out of policy or invalid, and it will be impossible to pay the renewal premium, and you need to re-apply for insurance and underwriting to make the policy reinstated.

Generally speaking, in order to ensure that customers can pay the renewal premium on time and prevent the policy from falling out, major insurance companies will agree on a grace period of the policy in advance, most of which is 60 days. The formulation of the grace period facilitates the inconvenience of the policyholder to pay the premium under special circumstances, such as business trips, going abroad, and capital turnover difficulties.

Applicants can also consult the insurance company for specific grace periods and other matters before paying the renewal premium.

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A: As long as it is not more than two years, there is an opportunity for remediation. According to the general procedure, when the deduction date comes, the insurance company will automatically deduct the current premium from the policyholder's bank account; If the deduction is unsuccessful, the policyholder will have a grace period of 2 months, after which the policy will automatically lapse if the premium is not paid.

Within 2 years of the policy lapse, the policyholder can apply for reinstatement of the policy; However, if no reinstatement is applied for after 2 years, the policy will lapse permanently, and the policyholder can only request the insurance company to refund the cash value of the contract (if the premium has been paid for more than 2 years) or the premium after deducting the handling fee (for the unpaid 2 years).

Experts remind consumers that although the policy can apply for reinstatement within two years, the invalid policy will still cause great losses to customers: (1) the insurance company does not bear the insurance liability during the period when the policy lapses and the reinstatement procedures are not completed; After the policy is reinstated, claims due to illness will not be covered within 180 days. (2) After the policy is reinstated, no compensation will be made if the person commits suicide within two years.

3) Some customers must have a new physical examination when applying for reinstatement, and their health status must meet the relevant conditions; If you fail to pass the physical examination, you cannot apply for reinstatement, but can only terminate the contract. (4) When applying for reinstatement of the policy, the customer must make up the premiums and interest owed during the lapse of the insurance in a lump sum.

The insurance contract needs to be jointly maintained by both the customer and the insurance company, and the customer himself should also pay more attention to the various policies with long-term protection liabilities to avoid unnecessary mistakes and invalid policies. Especially for customers with large sum insured, old age, and poor health, in order to protect their interests from loss, they should still pay attention to checking their own and their family's insurance policies frequently. If the personal information is changed due to work or other reasons, especially the change in the way of connecting the stool, the insurance company and the person should be notified in time.

In addition, it is recommended that the policyholder choose the "premium advance" function to reduce the damage to their own interests caused by untimely payment. The so-called "premium advance" means that once the policyholder fails to pay the premium in time after the 60-day grace period for various reasons, the current premium will be paid in advance by the cash value of the policy, and the policy will continue to be valid until the cash value is insufficient to pay the subsequent premium, and the insurance contract will be terminated, and the insurance can still be paid during this period. (Liu Di Ji).

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

For example, if the insured is still alive at the end of the insurance period and has not made a critical illness claim, the insurance company will refund 100% of the sum insured; China Life Corning Children's Critical Illness Insurance is a refund of 150% of the premium paid.

Most insurance products with maturity return liability are a certain percentage of the premium paid, and the return of the sum insured is relatively small, which is subject to the terms and conditions of the product.

1. How many days can insurance payment be delayed?

If it is an insurance product that requires long-term payment, it does not matter much if you do not pay it in time. As long as it is within 60 days, then the insurance is still valid, even if the payment is not made on time and the insured has an insured accident during this period, the insurance company will pay the corresponding compensation according to the regulations (after deducting the unpaid insurance premium), and this 60 days is the grace period of the insurance. If the payment is not made on time for more than 60 days, but not more than 2 years, it is the policy suspension period, during which the insurance company does not need to bear the responsibility for claims if an insured accident occurs, but during this period, the policyholder can apply to the insurance company for reinstatement, and after the insurance company agrees, the policy can be restored after paying the outstanding premium and late fee, and can continue to enjoy the insurance protection.

If the premium is not paid in time for more than 2 years, the policy will become invalid and will not only not be reinstated, but also the insurance company will not refund the premium paid by the policyholder.

2. How can I get the full refund when the insurance is surrendered?

Most of the insurance cannot be refunded in full, but if there is a maturity insurance guarantee, then the insurance company can also return a sum of insurance money when it expires. If the policy is surrendered, the full amount can only be refunded only if the policy is surrendered during the hesitation period (some insurance products will deduct a production cost). If the policy is surrendered after the cooling-off period, you can generally only surrender the cash value of the policy, and if it is an insurance product with a relatively high cash value, you can wait until the cash value is the same as the premium paid before surrendering the policy, which is equivalent to a full refund.