Under normal circumstances, the insurance premium is paid in installments, and a certain premium is paid monthly or annually. If there is no special requirement, the insurance company will deduct money from the bank card for the first payment every time. As long as there is enough premium in the bank card and the insurance contract is valid all the time, the premium will be transferred away by the stipulated payment time.
If the bank card is no longer used, the insured can contact the insurance company to change the bank card. If you don't change it, you can't continue to pay, and the insurance contract has a grace period of 60 days. During the grace period, even if the renewal premium is not paid, the insurance contract is still valid. If an insurance accident occurs during this period, the insurance company still needs to bear the insurance responsibility, but the unpaid insurance premium should be deducted from the compensation amount. However, if the insured fails to pay the renewal premium in full after the grace period of 60 days, the insurance contract will be terminated. After the insurance is suspended, it can only be restored if it is restored.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.