Will you send a text message to remind the insured during the insurance grace period?

In fact, our policy expires, and it doesn't matter if it is not handled in time, because there is a grace period in the insurance contract. Grace period refers to the grace period given by the insurance company to the insured who fails to pay the renewal premium on time, usually days. In other words, the insurance company can still guarantee the same day if it fails to pay the due amount. However, you should know that there is actually a charge for this day's protection, and you still have to make up the money when you pay the insurance premium in the future. In addition, if you can't continue to pay the premium after the expiration of the policy, you need to deal with those who are still in the grace period according to the specific situation. Even if we don't pay the renewal premium, the insurance contract is still valid. If an insurance accident occurs during this period, the insurance company will still bear the insurance responsibility, but the unpaid premium will be deducted from the compensation amount. However, if the insured fails to pay the renewal premium in full after the grace period of days, the insurance contract will be terminated. After the insurance is suspended, it can only be restored if it is restored. It should be noted that short-term insurance is also one-year insurance, and there is no insurance grace period. If we want to apply for reinstatement within two years after the termination of the insurance contract, we need to pay not only the premium but also the interest. The purpose of the grace period is to provide some protection for the insured who has no intention of defaulting on the insurance premium, and also to provide a relatively ample time for the insured who has financial difficulties to raise funds. Under normal circumstances, insurance companies usually remind customers to pay insurance premiums on time by email or SMS before asking for payment. Therefore, before we buy insurance, we must find out the grace period and pay the premium on time to avoid unnecessary losses.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.