What if my funeral policy lapses? “
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LESSONS
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PRICES
If you do not pay your policy premium within the grace period provided by the insurer, the policy will lapse because of non-payment.
You won’t have any insurance coverage during loss or at a claim stage, i.e. you will not be insured.
Other insurance companies might refuse to cover you, depending on their underwriting guidelines.
A lapse in cover can affect your premium rates for future insurance policies you might want to take out.
deonedsonf othtenewcoersldsaAriplyomliceyalnapthsee for your insurance protection. Most insurance companies allow you to apply for reinstatement of your policy.
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hile e“uity is the best performǦ tinogdiinvearsssiefyt msoaraksetto, tnhaevriegaisteneuendǦ mcearrtkaeint.tieshaendthreiseknsvoirfoanvmoelantilies Tfwtrrhoihcimeksyrmt,ehyeoeouancnanesseghetedhmtetsoarrehpkliaeagtyrhset;ehhirenerdsnetecatfeeunnirctcneiess. imperative not to put oneǯs eggs in olensesobna.sket, and that is the fourth leTshsoenfifitshtoanmdapkeerhthaepsdiemcipsoiortnantot invest early. Brooke demonstrated hahoewadinovfelasteinignveeasrtloyrws fiollrekveerpeyvoenu if all other variables were the same. To learn more about investment othpetioinbse,kyeoluomBauyilvdisnigt Oinld buatbuanl aet.
Contact your insurance company and submit proof of loss of income and continued insurability. The documents may vary from insurer to insurer and depends on the time elapsed.
You will have to negotiate a payment plan for the reinstatement of the policy first and arrange or set a date of resuming paying premiums and/or paying all the due premiums along with the revival charges prescribed at the time of payment immediately when you start to receive income.
Once the above has been done successfully your insurafonrccee.policy will get back into The key is to communicate with your insurance agent or insurance company to explore your options if you’re having trouble paying premiums or have a policy that has lapsed. Don’t assume that your only choice is to give up your coverage.