Late Pay Premiums, What Are The Risks?

Insurance ~ Because flurry could be that you forgot to pay your insurance premiums should be paid, then what will happen if you are late paying premiums into the insurance?

If you are late paying the premiums then automatically your insurance policies will be canceled (lapsed), and most insurance companies will not give ' Notice of Cancellation '. Because the insurance company berpatok on provision in Standard fire insurance Policie.

Article 2: payment of Premiums
"... that any premium indebted should've settled and for real has been accepted completely by the Insurer.

2.1.1 then premium payment must be made within the grace period 30 (thirty) calendar days counting from the start date of the enactment of the policy;

So also in the standard policies AAUI (General Insurance Association of Indonesia) other premium payment must be paid in full within 30 days. If there is a delay in payment of a premium insurance policy then automatically cancel itself out without having to publish any endorsement cancellation, as provided in article 2 of this

2.3. If the premium not paid in accordance with the provisions and within the specified time period, this Policy null and void by itself without having to publish a cancellation endorsement calculated from the expiration date of the grace period and the insurer are exempt from all liability for losses since the date in question.

The delay in paying the premiums can be one cause of the filing of a claim was denied. Do your best to always pay your premiums on time so that the cash value you continues to grow, and of insurance protection goes on. To avoid delays in the payment of insurance premiums, we recommend that you use the auto debit from your bank savings account.

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