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Key Takeaways
Most insurers offer a grace period of 15 days for monthly premiums and 30 days for quarterly, half-yearly, or annual premiums before the policy lapses.
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How Do We Treat Policy Lapses?
At Canara HSBC Life Insurance , the policy lapse and reinstatement process is clearly defined and customer-friendly. We offer a 30-day grace period for annual premium payments and a 15-day grace period for monthly installments. If you pay within this grace period, your policy remains active with no interruption.