Why Life Insurance Policy Lapses-State Life

Why Life Insurance Policies Lapse? In the previous post we talked about the importance of life insurance policy in our today's busy life.We also discussed if the premiums are NOT paid well in time it attains the status of a lapsed policy.A lapsed policy is unable to protect you,your family and your loved ones.It is useless.A lapsed policy is a source of remorse and dejection for all the concerned.For you ,your insurer and for the man/woman who sold you.No one is happy at this situation.

Now in this post we will discuss why many life insurance policy lapse?

When you decide to protect and secure your loved ones and buy a life insurance plan you make a wise decision.You are very enthusiastic and sincere.Perhaps you thought many times before signing the contract.Even then soon your life insurance policy lapses.Why did you let your life insurance policy lapse?Why?
The reasons may be many.But how many are true?You will yourself see and decide that many of the reasons are baseless and can safely be termed as "lame excuses".
Few of the many reasons are:

 I forgot the last date of payment.

I do not have not enough funds.

I am unaware of the importance of life insurance.

I do not understand the  terminology of life insurance.I do not know what is a grace period?.

I was not aware of the adverse consequences of a lapsed policy.

I did not buy the right plan.

I have few other better options where i can spend my money.

 You see these are all lame excuses.Remember the golden rule

WHERE THERE IS A WILL THERE IS A WAY

Before you write your insurance policy always keep in mind that you are mentally prepared to spend your money to protect and secure your wife,kids,parents and to all those who rely on you in case you are gone.Life insurance is a long term investment plan.It is a strategy.A strategy to protect and secure your family and to have enough funds when you are old.Whenever you get your life insured adequately you enjoy peace of mind.You are a lot relaxed.You need to cheer and celebrate that you made a wise decision and ultimately wrote your insurance.policy.

Now the question is "Are you under insured"?And when next you are going to update your life insurance strategy. 

Get ready to update your

Now
 Cheers
 Email your uestions >>>  statelifeonline@yahoo.com 

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