FAQs

Life Insurance

15 Jul 2006

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is the single most important requirement of maintaining your policy in full force at all times.

After all, all your plans for the protection of your near and dear ones as well as your investment for your old age could be nullified due to your policy lapsing due to non-payment of premiums. Yet, thousands of policies issued by LIC do lapse after a few years as a result of negligence and carelessness of the policyholders in making regular premium payments.

A grace period of 30 days is allowed for payment of yearly, half-yearly and quarterly premiums and fifteen days, in case of monthly payment of premium.

Please do NOT wait until the last few days of the grace period. The safest way to pay your premiums is on a yearly basis. Even if your policy has commenced on a quarterly premium basis, it is advisable to change it to yearly payment later on. The lesser your transactions with the insuring company, the better. Besides it is easier to remember the due date in a year. The more frequent the payments, the higher are your chances of the policy lapsing.

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

AMFI Registered Mutual Funds Distributor | ARN-52619 |Validity: 20/08/2027