Avoid PolicyPolicy The policy is a binding agreement and is agreed upon by the insurance company and policyholder in writing. An agreement made by the policyholder with an insurance company. LapsesLapse Premiums that are not paid beyond the grace period can invalidate the policy (the effective period of the policy stops).: Benefits of Auto Debit for Insurance PremiumsPremium The money that must be paid at a certain time is the obligation of the insurance policyholder. The amount of premium paid is determined by the policy and approval of the insurance company in accordance with the conditions of the insured. The nominal payment approved by policyholders and insurance companies. Premium payment will be made according to the agreement, it can be monthly, yearly, or according to the agreement..
