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What is a renew?

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Anonymous

11y ago
Updated: 11/4/2022

It relates to the time period before an insurance policy for instance runs out....you usually get 2-4 weeks, to pay your renewal sum

The renewal period of a life insurance policy falls due on quarterly,half yearly or yearly intervals,though a grace period of 30 days is allowed. Where as in medial insurance, renewal period is calculated 12 months from the date of inception. Here renewal date is vital since it can not be extended by any means and the policy will face unwarranted lapsing. It is advisable to renew the medical insurance policy at least before 7/10 days to be in the safer side.

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Lupe Hahn

Lvl 13
2y ago

What else can I help you with?