Claim will be rejected
Claim will be paid subject to policy conditions
Claim is payable after deducting the prem
None of the above
✅ The correct answer is C.
If the policyholder dies within grace period claim is payable after deducting the premium. As per the rules, if the death of the policy holder occurs on the due date of the premium payment or during the grace period, still the policy is valid and the beneficiaries will get the sum assured. But after deducting the the unpaid premium for the current year.
If the policyholder dies within grace period claim is payable after deducting the premium. As per the rules, if the death of the policy holder occurs on the due date of the premium payment or during the grace period, still the policy is valid and the beneficiaries will get the sum assured. But after deducting the the unpaid premium for the current year.