What if the policy has passed the grace period?

The purpose of the grace period is to provide some protection for the insured who has no intention of defaulting on insurance premiums, and also to provide a relatively ample time for the insured who has financial difficulties to raise funds. General insurance companies will remind customers to pay on time by letter or SMS before the payment period, so consumers had better pay on time. Then, some consumers have asked: What will happen if I don't pay the current premium after the grace period? Generally speaking, the insurance contract is terminated if it is not paid after the grace period. But within two years, you can still apply to the insurance company for policy reinstatement. Policy reinstatement can not only maintain the cash value of the original policy, but also continue to pay according to the insured's original age. Therefore, it is suggested that after regaining the ability to pay, it should be restored in time within two years to regain insurance protection. However, if the insured is in poor health, the insurance company may refuse to resume the policy, so it is best not to let the policy expire.