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How can you get your money back if you stop it?
Have you ever thought about this?
The monthly premium of your life insurance is Rs.5000. The duration is 15 years. By the time you stop paying it is 18 months. Now you have added 5000 * 18 = 90000 to your insurance account.
Isn’t this the money you’ve made to earn money and get in trouble?
Then why don’t you pay the premiums?
1) The insurance agent does not come to collect premiums now.
So if you stop paying the premiums without looking for another option, you are at fault. You did not insure the agent’s life, but your life. so you have other premium payment options
2) Your expenses have increased.
Before explained how much your life insurance is worth. So all you have to do is cut back on unnecessary expenses. Eating out at the shops and stopping gambling is unnecessary.
3) You don’t get the extra benefits you want.
If so, you can eliminate any unnecessary benefits and apply for the required benefits in writing.
4) The agent who came was making money.
Why are you giving the agent the hardest money? Have the companies devised any security measures that could give you that money?
Can’t you just start an insurance policy that has stopped you from doing this?
There are two ways.
- Normal Revival
If your insurance premium is less than six months old, you can pay back all the outstanding premiums once and for all.
2) Special refreshments. (Special Revival)
If you haven’t paid your premium for more than six months, you can renew it with a renewal fee with one installment. So your proof period extends to the same period as when you didn’t pay the premium.
Keep in mind, especially if you have deactivated the deed, there is a big risk.
90 days from the day you renew your policy, the policy will be reinstated. Within 90 days you will not receive any insurance claim. Even if you die within that period, the family will not receive the money.
Insurance companies are willing to wait until people make claims.
But your own recklessness makes it impossible for them to do so. So, the company, you and your family are embarrassed.
So if your insurance policy is as dysfunctional as possible, the insurance policy can help you if you are in trouble.