Description: If the life insured consistently pays all the premium instalment without leaving any outstanding premium, it is called in-force policy. A life insured can avail the benefits only when the policy is in-force. The cover applies to the policyholder only if the policy is in-force.
What does policy status in force mean?
Policy Status – Where Available\n\n Status of your policy indicates if your policy is in force or has lapsed due to non-payment of premium. It also provides other important information with respect to your policy, for your reference.
What does in force status mean?
In-force status means a condition during the term of the Policy, wherein the insurance coverage is subsisting and you have paid all the due Installment Premiums.
What does in force mean for insurance?
In-Force Business — the total dollar amount of paid-up and current insurance policies that a life or health insurer carries on its books. A life insurance company's in-force business is the aggregate of all policy face values in its portfolio. A health insurance company's in-force business is its total premium volume.