Never let your insurance policy lapse
Well dear visitor!You all know that we have created this blog to create awareness and to let the world know how important life insurance is in our today's busy life. Today we are going to chat about very important aspect of Life Insurance.The topic of today's post is "LAPSED LIFE INSURANCE POLICY".
We suggest cost effective life insurance solutions.
What is a lapsed life insurance policy?
Why Life insurance policy lapses?
The dangers of a lapsed life insurance policy.
How a lapsed life insurance policy can be reinstated?
The contract of the life insurance policy is a very very important document.You purchased a life insurance plan.No doubt you made a wise decision to financially protect and secure your loved in case you are gone.
Do you remember that when you purchased the life insurance policy the insurer gave you a date,a last date on or before which you must pay the premiums.Always remember this date.You better note this date in your diary.If due to one reason or the other you are unable to pay the premium the insurer gives you another 30 0r 31 days to pay the premium.This is called grace period.If you do not pay the premium within this due date the policy is no more in force.It attain the status of a lapsed policy.So we see that the policy lapses when the policy holder is unable to pay the premiums within the grace period.No one is happy at this situation.A lapsed policy is a "loose loose" situation for every one concerned.
Well dear visitor!You all know that we have created this blog to create awareness and to let the world know how important life insurance is in our today's busy life. Today we are going to chat about very important aspect of Life Insurance.The topic of today's post is "LAPSED LIFE INSURANCE POLICY". We suggest cost effective life insurance solutions.
In this post we will keep our attention focused:
What is a lapsed life insurance policy?Why Life insurance policy lapses? The dangers of a lapsed life insurance policy.How a lapsed life insurance policy can be reinstated?
Importance of a in force life insurance policy.
The contract of the life insurance policy is a very very important document.You purchased a life insurance plan.No doubt you made a wise decision to financially protect and secure your loved in case you are gone.
So it is a valuable asset for you,for your family and for all those who depend upon you..However, the value of this very precious asset turns in to "ZERO"a big "ZERO"when you do NOT pay the premiums well in time particularly in the first two years of the life insurance policy.Hence if you do NOT pay the premiums in time NO protection is available to you.So it is always in your interest to pay the premiums regularly and keep the policy in force.
What is a lapsed life insurance policy?Do you remember that when you purchased the life insurance policy the insurer gave you a date,a last date on or before which you must pay the premiums.Always remember this date.You better note this date in your diary.If due to one reason or the other you are unable to pay the premium the insurer gives you another 30 0r 31 days to pay the premium.This is called grace period.If you do not pay the premium within this due date the policy is no more in force.It attain the status of a lapsed policy.So we see that the policy lapses when the policy holder is unable to pay the premiums within the grace period.No one is happy at this situation.A lapsed policy is a "loose loose" situation for every one concerned.
State life Insurance Corporation of Pakistan.
The tested,the trusted and the largest Life Insurance Company of Pakistan.
Today we are going to chat about very important aspect of Life Insurance.The topic of today's post is "LAPSED LIFE INSURANCE POLICY". homeowners insurance
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