There is a 60-day grace period, and there is no extra interest for paying the premium during the grace period, which will not affect the income of the policy.

After the grace period, it is a two-year suspension period (not termination). During the period of insurance suspension, interest will be paid when premium is paid, which will affect the benefits of the policy before premium is paid.

If the policy contract is terminated after the suspension period, the insurance company will handle the surrender.