A grace period of 31 days from the due date will be allowed for payment of each subsequent premium. The certificate of insurance will remain in force during the grace period. If any claim arises during the grace period, any unpaid balance of the premium due for the full coverage year in which the loss or the insured event occurs shall be deducted from the proceeds payable under the certificate of insurance. If any premium remains unpaid at the end of its grace period, the certificate of insurance shall lapse and coverage shall be terminated.
You should have received 3 notifications as a reminder to make your premium payment before your certificate of insurance lapses. However, you may reinstate your certificate within 180 days after the premium due date and before the expiry date of your certificate subject to the terms and conditions of the policy.