Missed Your Term Insurance Premium? Grace Period, Lapse and Revival
What happens if you miss a term insurance premium? This example follows a yearly premium with a thirty-day grace period: cover continues during grace, but stops if the policy lapses after grace ends. Revival may be possible within the time your policy allows. Paying overdue premiums alone does not restart cover; the insurance company must approve revival. Confirm the approval and the date your cover starts again. Ask me to check your policy status and guide you through revival if needed.