It might sound like the deal of a lifetime until you realize that once you get rid of the car insurance and home insurance you are stuck with a $ 125.00 per
month life insurance bill.
If for some reason you do not pay
your life insurance bill, your policy will no longer be «in force» and will considered «lapsed.»
Current automobile or
life insurance bill, or homeowners or renter insurance bill (cards or policies are not accepted)
If you know you may forget to pay
your life insurance bill each month or year, check with your life insurance company to see if they have an auto pay policy.
Each carrier has their own specifics, so be sure to check with your insurance agent on their payment policies, but in general, you can pay
your life insurance bills monthly, quarterly or annually.
That means a big savings on your monthly
life insurance bill.
People buy these polices if they want permanent coverage and cash value accumulation, but also want to have the ability to adjust
their life insurance bill based on their current financial situations.
«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.
If for some reason you do not pay
your life insurance bill, your policy will no longer be «in force» and will considered «lapsed.»
Posted in insurance, lapse, life insurance, life insurance reinstatment Tagged bill not received in the mail, insurance, late payment noticee in the mail, life insurance,
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I have clients that have been paying
their life insurance bills that were mailed to them and checks mailed back to the company for 20 years without a hitch.