If Ping An Credit Card fails to pay the premium within the time limit, it may apply to China Insurance Ping An Life Insurance Company of China Insurance Company for cancellation. However, it should be noted that the application for termination of insurance contract can generally be downloaded from Ping An Insurance Company in official website, or it can be filled out after being collected by Ping An Insurance Branch. Don't be cheated.

Installment insurance products generally have a grace period of 60 days. If the premium is not paid after the 60-day grace period, the policy will be invalid, but it will not be automatically surrendered, because the insured still has two years to apply for the policy reinstatement.