If thee policy has already lapsed, there is no active policy to cancel. It means that it is already cancelled.
If they die after the policy lapses, then no payment is made. if the policy lapsed after the the person dies, then payment should be made to the beneficiary. mcdlife.com
Usually an insurance policy lapses when there is not enough premium paid or not enough cash value to keep the policy in force. So, if the policy lapsed, there is no refund owed to the policy owner if the policy had no "Return of Premium" or any cash value left. The premiums already paid into the policy were used to cover for the amount of time since policy issue until the moment it lapsed.
No.
If you ask your insurance company to cancel your policy, they will.
It really depends on how long your policy has lapsed, but there are insurance companies that will provide you with insurance coverage even with a lapse. Give us a call and we can get you a replacement policy. 847-444-2571, ask for LIZ.
If you cannot cancel a policy that you don't want that you are paying for on a spouse you need to contact the company which provides the policy. Most companies should allow you to cancel a policy.
Most insurance companies wont allow a policy to be reinstaed after the policy has lapsed (or become paid up). once 13 months of premiums are missed usually the policy becomes lapsed and cannot be reinstated after this time.It is worth calling the customer reps for your insurance company who can confirm this.
Only the policy-holder has the right to cancel. You have no say in the matter.
i don't think so
If the accident occurred after your policy lapsed and before reinstatement, no, it won't.
Cancellation Termination of an insurance contract before its expiration date, by either the insurance company or the policyholder. Lapsed Insurance Policy When a policyholder fails to pay the due premiums, his or her insurance will get cancelled. These are referred to as a lapsed insurance policies.
Yes. You can cancel at any time