What will happen if the policy holder does not pay the premium by the due date and dies during the grace period?

A The insurer will consider the policy void due to non- payment of premium by the due date and hence reject claim
B The insurer will pay claim and waive off the last unpaid premium
C The insurer will pay the claim after deducting the unpaid premium
D The insurer will pay the claim after deducting the unpaid premium along with interest which will be taken as 2% above the bank savings interest rate

Correct Answer: The insurer will pay the claim after deducting the unpaid premium

If the policy holder does not pay the premium by the due date and dies during the grace period the insurer will pay the claim after deducting the unpaid premium.
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Related Questions

As per IRDA regulations issued, what is the grace period allowed beyond the expiry date of a policy for renewal?
A 10 days
B 30 days
C 45 days
D 60 days
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B The standard length of the grace period is 30 days
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D The standard length of the grace period is one month or 31 days
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A 60 days
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