What if my life insurance policy lapses?

Don’t let your life insurance policy lapse

Life insurance provides important protection for workers and their families, but that protection is only in force when the policy is active.

Allowing a life insurance policy to lapse is dangerous, and it is important to keep up with the required premium payments.

In some cases the life insurance company will provide some sort of grace period, but it is important for policyholders to ask about that grace period when purchasing the policy.

Some insurers will provide a 60 to 90 day grace period, but after that grace period has expired the insurance policy will generally lapse and new coverage must be purchased.