In case of cancellation of life insurance due to non-payment of the bill, can I rehabilitate the policy or do I have to make a new policy?
It is important to note that if the life insurance premium is not paid, the coverage is suspended one month after the day the premium is due. Once the policy is suspended, the insured can still request insurance rehabilitation, up to five months later. That is, the policyholder has up to 6 months to request the rehabilitation of the policy. Of course, you will have to pay the entire annuity. After these six months, the contract is terminated. Therefore, in the event that the policyholder wants life insurance, he will have to make a new application, with all that that implies.
In addition, it is necessary to know that the non-payment of the policy implies the extinction of the coverage. During the first month, if the premium is paid, even if it is late, the coverages remain in force (we insist, as long as the policy is paid). However, in the following months until the end of the period in which the policy can be rehabilitated, the insurer does not offer coverage, even if the policy is rehabilitated.
At PuntoSeguro we not only process your life policy, but we also help you in any future process you may need. We also advise you when hiring your policies and inform you of the best rates to renew your insurance with the necessary advance. We are insurance brokers and offer a personalized treatment to all our clients. Being a brokerage, we offer different types of insurance from a wide variety of insurance companies to offer the most appropriate product for the needs of each client. In addition, we offer free advice so that our clients find insurance with the necessary coverages to really cover their needs.
Also, in our life insurance comparator you can compare the prices and conditions of the best life policies on the market, including life insurance with coverage in case of absolute permanent disability. And just by taking out a life policy with us you can participate in the #RetoPuntoSeguro, with which you will get an interesting bonus on the renewal of your life insurance just for having an active lifestyle and overcoming the monthly challenges.
If you need more information to take out insurance or need any additional clarification, do not hesitate to contact us.