If you fail to pay premiums then:-
- one option is to review your insurance contract and change the terms.
For instance, you can reduce your sum assured and your premiums will also reduce
accordingly, possibly making it more affordable for you to keep the policy in force.
Life insurance is a necessary financial instrument that every person with financial
dependants must have. So it is important to be careful so as to not let your policy lapse,
otherwise your financial dependants might end up facing financial suffering when you are cease to provide for them.
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Tags: insurance policy