What happens if I don't pay my life insurance premiums on time?
It's really important that you keep up to date with your premium payments. If you fall more than 30 days behind with a payment your life insurance policy may be cancelled by the insurer. This means you will not be covered and you cannot make a claim.
Your policy document will contain information about applying to have a lapsed policy reinstated. A decision may be made not to reinstate the policy, or impose additional conditions on the policy if the insurer does reinstate it.
- What is life cover?
- How much does life Insurance cost?
- Can my partner get life insurance too?
- What if I change my mind about my life insurance?
- Can my life insurance policy be cancelled?
- Can I increase the amount of my life insurance?
- Will I need to pay premiums as soon as you issue my life insurance policy?
- What happens if I don't pay my life insurance premiums on time?
- Are the premium rates for my life insurance guaranteed?
- Are my life insurance premiums tax deductible?
- How can I pay my life insurance premiums?
- Will I have to have a medical test or interview to get life insurance?
- Do I need to speak with a life insurance broker?
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.