Short answer
FUP is the first unpaid premium: the due date of the earliest premium not yet paid. DOC is the date of commencement, when the policy starts. PPT is the premium paying term, the number of years premiums are paid. Instalments fall on the DOC's day of the month, so FUP is often written as just a month and year.
What each one tells you
| Term | Means | Why you care |
|---|---|---|
| FUP | First unpaid premium | The next premium to collect. Grace runs from this date. |
| DOC | Date of commencement | Sets the day of the month every premium falls on, and when the term starts. |
| PPT | Premium paying term | When premiums stop. It can be shorter than the policy term. |
| Term | Policy term | How long cover lasts, and so when the policy matures. |
| Mode | How often premium is paid | Annual, half-yearly, quarterly or monthly. Decides the next due date and the grace days. |
FUP does not mean lapsed
Reaching the FUP date only starts the grace period: 15 days on monthly mode, 30 days on other modes. The policy lapses only if the premium is still unpaid after that. See grace periods. A secondary source also notes that FUP is not printed in the original policy document, since it depends on which premium is unpaid, and that the LIC customer portal shows it under Policy Status.
How the dates fit together
Take a quarterly policy with a DOC of 31-01-2020 and a PPT of 15 years. Each due date is counted from the DOC, not from the last due date, so the 31st stays the 31st wherever a month has one. As of 08-11-2026, the next due date is 31-01-2027, grace runs to 02-03-2027, and the last premium of the term falls on 31-10-2034.
| Due | Grace ends |
|---|---|
| 31-01-2027 | 02-03-2027 |
| 30-04-2027 | 30-05-2027 |
| 31-07-2027 | 30-08-2027 |
| 31-10-2027 | 30-11-2027 |
FUP in a sheet
Agents often keep FUP as a month and year: 03/2026. Excel may then turn it into a real date on the 1st of the month, which is wrong by a few weeks. Take the day from the DOC instead. With a DOC of 15-06-2018, an FUP of 03/2026 means 15-03-2026. Bima Diary's Excel import does this for you, in both cases.
Common questions
What is the full form of FUP in LIC?
First Unpaid Premium. It is the due date of the earliest premium that has not been paid.
Does the FUP date mean a policy has lapsed?
No. The grace period starts from it. The policy lapses only if the premium is still unpaid when grace ends.
What is the difference between PPT and policy term?
PPT is how long premiums are paid. Policy term is how long the cover lasts. PPT can be shorter than the term.
Why is FUP often just a month and year?
Because instalments fall on the DOC's day of the month, the month and year are enough. Take the day from the DOC when you need a full date.
Sources
- Ditto Insurance: FUP in LIC Secondary source, not LIC. Opened on 08-11-2026.
- Angel One: first unpaid premium (FUP) Secondary source, not LIC. Opened on 08-11-2026.
- IRDAI Master Circular on Life Insurance Products, 12-06-2024, Ref IRDAI/ACTL/MSTCIR/MISC/89/6/2024 The IRDAI text, read from a copy on taxguru.in, not from irdai.gov.in. Opened again on 08-11-2026.
Last checked 08-11-2026. General information for agents, not legal, tax or financial advice. Rules change: the insurer's documents and the regulator's current text decide.
