does policy lapses if autorenewal fails?
I had taken an accident policy from HDFC ERGO in 2012 on an annual renewal premium auto debit facility for 10 years..
2012 13 14, all years premiums were debited.
however in 2015-2019 since there was no balance in the account premium auto debit failed.
In 2019 balance was there it got debited and policy was issued for one year.
again in 2020 21 22 it failed due to no funds.
My question is does not the policy lapses/terminated in 2015 itself and HDFCERGO is wrongly sending furter premium debits to my account?
as per feedback from them since it auto-renews every year if the premium is received then the policy is renewed if not ,it does not. every year.
am i right in asking for a premium refund of 2019 on the basis it was lapsed policy ?