What if I do not pay my life insurance premium?
If you life insurance is term life then your policy will cease to exist. It depends on how the policy is written but if it is whole life and there is some cash value in the policy or an automatic premium loan provision on the policy the policy will remain in effect until the cash value runs out.
What you should do if you cannot make the premium payment is call the insurance company to see if you can do a work out, premium loan, switch the billing to quarterly or monthly or something to try to keep the coverage you need in force.
If you need term life insurance go to http://termratequote.com
Uncategorized | dkitchell July 17, 2009
15 Comments to “What if I do not pay my life insurance premium?”
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