lapsed policy

Can You Have Lapses In Health Insurance?

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Can You Have Lapses In Health Insurance? An insurance lapse is the period where you didn’t have insurance because your policy ended and you didn’t have new coverage to replace it. This can happen for reasons including: You miss a premium payment. The premium payment wasn’t received by the due date. How do you avoid

What Does It Mean When An Insurance Policy Endows?

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What Does It Mean When An Insurance Policy Endows? What does it mean when an insurance policy endows? Typically for whole life plans, the policy is designed to endow at maturity of the contract, which means the cash value equals the death benefit. If the insured lives to the “Maturity Date,” the policy will pay