A life insurance policy lapse notice is an official notification from the life insurance company that a policy will be terminated due to the non-payment of premiums within the specified timeframe. Often times a policy will enter a grace period prior to lapsing, granting the policy owner the ability to reinstate the policy if all required payments are made.Any life insurance consumer that is over the age of 65 or who has been diagnosed with a Life limiting illness should contact Welcome Funds to determine if the policy will qualify for the viatical or Life settlement option.
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