You have at least 2 years to revive a lapsed policy

Let us say you miss paying the premium on your life insurance policy, and as a result, your policy has lapsed. For people who may find themselves in situations like this, life insurance companies offer a small window of opportunity to revive the policy during the revival period. The rules state that insurers need to offer a revival period of at least 2 years within which you can reinstate your policy. Here is how you can revive a lapsed life insurance policy. When do insurance policies lapse? A policy lapses…

Read More