Those death benefits can only be enjoyed, however, when the insurance policy is in force, and it is important to take positive steps to avoid a lapse in coverage.
In many cases the life insurance company will provide some sort of grace period – usually 60 or 90 days – during which the policyholder can catch up on any missed premiums by paying the premiums due, and keep their life insurance policy "In Force".
After the grace period has expired; however, your life insurance policy can become null and void.
Learn more about a lapsed life insurance policy and what to do.