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The company said my life insurance policy lapsed. Can I get it back?

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  Answers  |  1

September 22, 2017

That depends! Before a policy lapses (is canceled for lack of premium), it usually goes into a grace period. That period signals the coming lapse and allows you to retain the coverage - if you make up the premium payment (s) due.
If no payment is made, and it lapses, a policy may be reinstated within a given amount of time past the lapse date. How long after the lapse date? You can find that in your policy or you can call the carrier and ask. There comes a point in time
when paying the back premium to reinstate will not work, and the policy is lost. To put another policy in place will require new underwriting: application plus exam, etc.

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