How to Renew Life Insurance Policy before Expiry Online?

Renewing a life insurance policy before it expires online is a great way to save money. It is also a good idea for people who are considering buying life insurance for the first time. Life insurance policies usually expire after a certain period and you have to renew them before that happens. Renewing your policy online is easy and can save you money in the long run. The process of renewing your policy online is simple with just a few steps you have to follow:

To renew your life insurance policy online visit the official website of your life insurer and log on to your account then make payment using online payment methods or contact the customer care number who can assist you in the renewal process. In this process support agent send a payment link to renew the life insurance policy; once the payment is made renewal intimation will be sent to you.

How Much Does It Cost to Renew Life Insurance Policy Online?

Most people are not aware that they can renew their life insurance policy online. Renewing your policy online is more convenient and cost-effective for you as well as the company. Most life insurance companies offer online renewal options to their customers. This is a good way to save time and money.

The cost of renewing online is having a low premium as compared to offline. The cost of renewing a life insurance policy online varies from company to company. It depends on the type of policy and the company you choose.  The cost is determined by many factors like the type of policy, the amount of coverage, the company's history with customer service, the length of the term, etc.

It is important to understand these factors before renewing your policy so that you can make an informed decision about which company to choose. PolicyBachat provides a life insurance calculator tool that will help you find out how much it costs to renew your life insurance policy online easily.

How to Renew Life Insurance Policy after Expiry Online?

If you forget to renew the policy before the expiration date and the policy gets lapses. Once your policy lapses, your insurer will not be able to provide financial aid. It is, therefore, advised to always renew your insurance policy on time before it lapses, as it will help you avoid any financial implications. There are many ways how you can review or renew after the expiry date online.

When you buy a life insurance policy, your insurer will give an option of paying the premium in monthly, quarterly, or half-yearly installments, or yearly as a lump sum. Once you stop paying the premium of your life insurance plan, the policy becomes inactive, however, it does not gets lapsed. The insurer allows you a grace period of 15 days to 30 days after expires. However, if you still do not make the payment for the renewal of your life insurance, the policy lapses.

How Much Premium for 20 Crore Term Insurance Policy?

Term insurance plans are affordable and provide high coverage at a low cost. 20 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 20 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 20 crore term insurance policy might range from approximately Rs. 1,20,000* to Rs. 1,50,000*.

How Much Premium for 15 Crore Term Insurance Policy?

Term insurance plans are affordable and provide high coverage at a low cost. 15 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 15 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 15 crore term insurance policy might range from approximately Rs. 1,00,000* to Rs. 1,15,000*.

How Much Premium for 10 Crore Term Insurance Policy?

Term insurance plans are affordable and provide high coverage at a low cost. 10 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 10 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 10 crore term insurance policy might range from approximately Rs. 75,000* to Rs. 85,000*.

How Much Premium for 7 Crore Term Insurance Policy?

Term insurance plans are affordable and provide high coverage at a low cost. 7 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 7 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 7 crore term insurance policy might range from approximately Rs. 40,000* to Rs. 60,000*.

How Much Premium for 5 Crore Term Insurance Policy?

Term insurance plans are affordable and provide high coverage at a low cost. 5 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 5 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 5 crore term insurance policy might range from approximately Rs. 25,000* to Rs. 35,000*.