Extra time to pay
If you miss a premium due date, insurers give a grace period — commonly 15 days for monthly modes and 30 days for others — during which your policy stays in force and a claim would still be honoured.
Not sure how this applies to you? A free call with Vijay Singh Rana sorts it out in minutes.
What happens if you miss it
If you don't pay within the grace period, the policy can lapse and cover stops. Many policies can be revived later by paying dues (sometimes with interest) within a revival window — an advisor can guide you.
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Vijay Singh Rana — HDFC Financial Advisor · IRDAI & AMFI Registered
Frequently asked questions
How many days is the grace period?
Typically 15 days for monthly premiums and 30 days for quarterly, half-yearly or yearly.
Can I revive a lapsed policy?
Often yes, within a revival period, by paying overdue premiums. Ask your advisor.