== == * Whole Life Insurance policies lapse due to non-payment. Usually there is a provision that is called the Automatic Premium Loan that takes money out of the cash value to pay premiums if you stop. This is safety becasue most people do not conciously stop paying especialy when there is a cash value. Your policy lapsed which means you cash value is empty, sorry, no money for you. == == * Was it term or whole (permanent) life insurance? Do you have a copy of the policy? Was there cash value in it? Did you get statements showing the amount of cash value?
Check out your States department of insurance found on line. I imagine you would have to sit for the exam again.
I have a whole life insurance policy, how long does it take to cancel it, also can I get money back from it.
Most of the time it's because of the money you get back. For instance, paying about 10% on your insurance will give you 5% back which is good money in my books.
You cannot receive money back on your life insurance policy because you used it for the period of time it was valid. You cannot receive money back on this policy.
Some types of policies are: # Pure term life insurance # Endownment # Whole life # Money back # Unit Linked Insurance Policies # etc...
Only if the policy owner, sends a written request to the Insurance Company to do that.
Lapsed policies can be re-instated if there have been no negative changes in your health or insurability status and if you pay back any money owed and past due premiums. If you owe to much or if your health has changed, you will need to look into a new policy.
It depends on the company and your age. They are not required to notify you of your policy lapsing. Contact them and ask them what you need to do to get it reinstated. If it has been too long, you may have to reapply.
Virgin Money offers life insurance, car insurance, home insurance, pet insurance, and travel insurance.
One can get cash back life insurance through various life insurance providers such as Farmers Insurance, Metlife, AAA Life Insurance or State Farm. Look in your local yellow pages for more information.
This depends on the policy. The best thing to do is to call the life insurance agent to ask about the specific policy in question.