The continuation of a life insurance policy is vital to get the income tax benefits. It means that you cannot skip paying the premiums during the selected policy tenure to save income tax. In case you stop paying the premium of your life insurance policy, your policy is liable for discontinuation, which means you cannot avail of the income tax benefits of life insurance any further and your life insurance benefits may be affected
You can ensure uninterrupted payment of life insurance policy premium by choosing a suitable payment mode. You can either pay the premium either in one go or throughout the policy tenure, on a monthly or annual basis.