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Normally the premium notice comes directly from the insurer. However, if one or more premiums have been missed, and the policy is at risk for lapsing (terminating for nonpayment), the insurer may notify the agent. The agent may therefore notify you of the impending lapse and the need to make premium payments so as to prevent the lapse.
Yes, if it was known prior to coverage. If you have had continuous insurance since the genetic condition was known and there was no lapse in coverage (or the lapse was short enough), care for that condition will be covered by your new insurer, per HIPAA.
No. If you had a lapse and a claim occurred during that lapse, then you have no coverage for the loss.
No. You are not covered in a lapse period. A period of lapse in coverage means " No Coverage ".
Technically, the policy lapsed. If a covered loss occurred before reinstatement, the insurer would arguably be justified in denying coverage. However, if the reinstatement was retroactive to the lapse date (which would probably occur if the reinstatement occurred quickly), and if you have been with the insured for some time, coverage may be extended to the intervening loss.
A "premium holiday" is a provision contained in some whole life insurance policies that permits the cessation of premium payments, usually in the event of economic hardship. Premiums are paid from the accumulated cash value within the policy during this period. When the cash value has been exhausted, the policy is subject to lapse for nonpayment of premium.
dodge, evade, neglect, deficiency, lapse, omission, dereliction, nonpayment
Yes, of course you can. Just call an insurer and buy the policy with the coverages you need. Once your policy in place you may want to call your previous insurer and cancel the old policy In fact this is the best way to effect your new coverage. That way you don't have a lapse in coverage between policies. Happy Motoring
Generally Yes. Many insurers will decline your application if you can not prove that you have not had a lapse in coverage. If the new Insurer issued you a policy with the stipulation that you would provide them a copy of your current or previous policy at a later time. They can also cancel your policy or they can consider you a higher risk and charge you a higher rate if you fail to provide the promised information. If you have had a lapse in coverage you should just be honest with the new insurer upfront to avoid an embarrassing situation later.
There is no grace period for claims after a lapse in coverage. The moment your auto insurance "lapses" is the moment you have "No Coverage" from that moment forward you have no coverage for a claim until you get coverage again.
It would depend on the insurance company. Most insurance companies will reinstate your coverage once you are caught up on your premium payments. You would then just have a lapse in coverage for the month you missed.
Yes, of course. A lapse in coverage is a common occurrence due to so many reasons, usually it's just the the home owner forgot to pay the renewal bill, but yes there should be no problem replacing the coverage. You just have to buy a new Home insurance policy. With a lapse in coverage you will likely loose your prior coverage discount (usually not more than 3 to 5 % of the total premium) and may have to sacrifice some of the coverage previously enjoyed n the policy depending on the age and other risk factors of the home.