Sentences with phrase «let the policy lapse by»

If you let your policy lapse by not renewing on time, you run the risk of losing all back coverage when your policy expires.

Well, you have two options here; exit the policy during the free - look period or let the policy lapse by not paying the annual premium payment.

Not exact matches

The Chartered Institute of Taxation (CIOT) has expressed disappointment at today's announcement that Disincorporation Relief will not be extended beyond its current March 2018 expiry date.1 The relief was created to address the problems faced by some small businesses that have chosen to be a limited company in the past and want to return to a simpler legal form, be it a sole trader or a partnership or a limited liability partnership.2 While there has been a very low take up of Disincorporation Relief since it was introduced in 2013 (fewer than 50 claims had been made as of March 2016) the CIOT has suggested3 that the relief might be more popular if it was broader.4 John Cullinane, CIOT Tax Policy Director, said: «It's a shame the Government are letting this relief lapse.

If you have term life insurance, you generally will receive nothing if you surrender the policy or let it lapse by not paying premiums.

How they benefit is by being able to obtain the true value of the policy instead of merely receiving the cash surrender value upon surrender or nothing upon letting the policy lapse.

You are protecting your loved ones by keeping your policy in force and not letting your policy lapse like so many others who do.

In addition, there are also going to be a certain portion of the client base that keeps a policy for a certain number of years, and just lets it go either by cancelling or just by lapsing.

Meanwhile, another 2014 survey by WealthManagement.com found that nearly 50 % of advisors agreed that clients who plan to let their coverage lapse should consider selling that policy.

Let your auto insurance coverage lapse for even a short period of time, and you could be considered «high risk» and charged higher rates by carriers once you go to sign up for a new policy with a new car on the plan.

He also had the option of not taking the «gamble» by letting the policy lapse at that stage if, in his opinion, he could not afford the premium or was not likely to die during the 10 year period.

The first term period of our life insurance has expired, so in order to keep this life insurance, we have some options: (1) Renew the policy at a premium of $ 750.00 per month (2) Let the policy lapse and have no life insurance (3) Purchase a new life insurance policy - Remember now 70 - ish (4) Convert the term policy (if convertible)- Remember now age 70 - ish We forgot about the quadruple by - pass surgery at age 65, which makes the «purchase of a new life insurance policy» out of the question (most likely).

«You wouldn't want to let one policy accidentally lapse by missing a premium payment thinking, for instance, that you already paid the life insurance bill last month,» he says.

Some seniors end up abandoning their policies, or letting them lapse, by ceasing to pay their monthly premiums.

If you purchased a policy before your HIV or AIDS diagnosis, it is extremely important that you do not let the coverage lapse by any means.

If for whatever reason this person lets their $ 250,000 whole life policy lapse (by not paying their bill), they will then have $ 500,000 of life insurance in force.

Whole life is good, but it is oversold by the agents (face amounts) and people let their policies lapse.