Amitabh Chaudhry, MD & chief executive officer at HDFC Life, answers your questions
I have misplaced my life insurance policy document. How do I get a duplicate?
You must immediately inform your insurance company . You are entitled to a duplicate policy document, for which you have to give a written request and an indemnity. You will also have to pay a fee for the duplicate copy.
I am covered under a group life insurance policy in my company. If I leave this company, can I pay the premium on my own and continue the cover? Or will it lapse automatically?
Ideally, group life policies are one-year renewable ones. Therefore, the employer might allow you to continue till the end of the year, after which it will depend on the group policy schemes. In most cases, the cover is discontinued.
I pay my life insurance policy premium on a monthly basis. Can this be changed to annual payments? What is the procedure?
Yes, most life insurance policies have such a provision. You could call or write to the customer service department and request this. It must be done at least 15 days before the due date for the premium.
The views expressed are expert's own. Send your queries to yourmoney@bsmail.in
