Is there any information about insurance deduction?

General insurance companies will send SMS reminders, but make sure that their contact information left in the insurance information is correct. If you forget to pay, the policy will enter a grace period: on the payment date, the unpaid policy will enter a grace period of 60 days. At this stage, the policy continues to be effective and provides protection. Pay the insurance premium within 60 days, and the policy will not be affected. If it is not paid for more than 60 days, the policy will be suspended: at this stage, the policy will be invalid, and the insurance company will not bear any insurance responsibility after the accident. In these two years, you can apply for the policy to be reinstated and pay the premium and interest. The policy will remain valid, but the observation period (waiting period) needs to be recalculated.

What is automatic renewal?

Automatic renewal refers to automatic deduction from the reserved bank card after the guarantee period. There are two kinds of automatic renewal, one is clearly stated in the contract. Some companies will set the renewal fee as the default option, and if consumers do not take the initiative to contact, they will continue to deduct money; Some companies do not need automatic renewal, but also need to provide a written application. Second, the contract is not clearly stated, and the contract will be notified separately when it is about to terminate. Under normal circumstances, after the insurance expires, the insurance company will call or SMS to inform whether to renew the insurance. If there is no reply, it will be regarded as automatic renewal.

Advantages of automatic renewal:

Although automatic renewal made us lose money without knowing it, it cost a sum of money, but from a dialectical point of view, automatic renewal is not all bad. Take consumer medical insurance as an example. Some companies will underwrite it for the second time. Elderly consumers with chronic diseases face the risk of being overcharged or refusing insurance. In this case, if you have automatically renewed your insurance, you don't have to worry about being overcharged or refused.

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