No, ICBC AXA Insurance is not allowed not to pay the premium, which will affect the protection. Usually, ICBC AXA Insurance Company will provide a 60-day grace period for compensation, and the guarantee will continue during the grace period; After the grace period, the insurance liability is suspended, and the insurance company does not bear the insurance liability, but the applicant can apply for reinstatement; After the 2-year reinstatement period, the insured still fails to pay the fee, and the effectiveness of the insurance is terminated, so it is necessary to re-insure.
In addition, if you don't want to pay after buying AXA insurance, you can apply for surrender before the payment period and get back the cash value of the policy.