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What is 'Renewal Premium Payment'?

‘Renewal Premium Payment’ is the amount you need to pay every year to continue the benefits offered under your policy.

  • If you make your payments after 3:00 pm, you will receive the Premium Paid Certificate on the next day
  • The company provides premium receipts one day after the premium due date. The premium payment receipt can be used as an investment proof to avail tax benefits
  • If you do not pay the premiums within the grace period, the life insurance policy lapses and the benefits under the policy stop


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