What is gap premium or premium not paid?

[Girish]

I had surendered my LIC policy. I have had received the cheque with less amount, after deducting amount against gap premium. What is this gap premium or premium not paid?

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[v.r.s.nathan]

I had surendered my LIC policy. I have had received the cheque with less amount, after deducting amount against gap premium. What is this gap premium or premium not paid?

I am not expert, but as mentioned in your query that it is the premium collection for the risk period, for which you haven't deposited the premium.

[Matrix]

Girish - The maturity amount paid to you after deducting any premium pending premium (not paid by you).