Sentences with phrase «policy lapsing owing»

Policy Revival is possible for up to 2 years from the date of policy lapsing owing to missed premiums even after grace period gets over

What's more, if your policy lapses owing to non-payment of premium, you may end up being in the insurance company's bad books thereby making it even more difficult for you to qualify for the eligibility criteria for a policy issuance.

Not exact matches

If you can not make your premium payment due to increased amounts owed, your policy may lapse and you would lose your insurance coverage.

If the amount owed equals or exceed the policy's cash value, and you stop making your regular premium payments, you risk a lapse in your policy.

If the policy lapses, you owe income taxes on $ 10,000.

If your policy does lapse, you'll owe taxes on the amount of the cash value, including loans that exceed the premiums you paid in — a real problem if the money you borrowed is long gone.

Lapsed policies are considered to have been voluntarily terminated by the policy holder owing to their failure to keep up with premium payments.