We offer a 60-day-grace period. This describes a length of time, after a deadline or due date, during which payments can still be made without penalty).
After this 60 day grace period, your policy will be consider lapsed under the following circumstances:
1. For investment plans where no payment has been made:
if the policy is in the first three years: it then becomes auto lapsed.
if the policy is the 4th year or longer and the policy cash value is not sufficient to cover the insurance fee plus the policy management fee.
2. For saving plans where no payment has been made:
if the policy is in the first two years: it then becomes auto lapsed.
the policy cash value is not sufficient to cover the auto policy loan (APL).
the policy cash value is not sufficient to cover the total amount of the following: auto policy loan + cash advance loan + loan interest.