Insurance Policy Lapse
Insurance Policy Lapse–Some of the FAQs
When your policy gets lapsed?
Your policy may get lapsed if you are not paid the premium on the due date.
What is a revival of insurance policy?
Making your insurance policy in force is called revival.
How can you revive a lapsed policy?
For the revival, you have to pay all the premium dues along with interest and health requirements.
What happens after reviving an insurance policy?
The lapsed policy becomes as usual policy. Now the Policy will be getting all the benefits of the plan.
The best advice is, don’t allow your policy to get lapsed.Your Lapsed Policy won’t have any benefit of insurance.
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