Thank you Madhura for the inputs. You got it rght. I recieved policy in mail to my international address at a later date. I remember I got the policy after a month or so. Honestly speaking I didn't understand this clause and I carried on agent's explanation. I realised that the ICICI withhold 1st instalment premium after talking to their customer service about the statment errors I recieved in mail (Ist premium did not reflected in the statement) but my question now is, Is it a wise decison to keep this policy active or surrender?. I am not an expert to foresee the performance of this policy. Are there any hidden catches such as Home loan or critical illness cover. I can ask customer service but I feel this forum is open to more experts.