Did You Or a Loved One Get A Life Insurance Lapse Notice?


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What Is A Life Insurance Lapse Notice Letter?

According To The American Bar Association A Life Insurance Lapse Period, Is Described As Follows:

“Lapse of a life insurance policy often leads to litigation seeking either death benefits or reinstatement. Life insurance lapse generally refers to coverage ending for insufficient or nonpayment of premiums. Insufficient premiums can cause lapse of a life insurance policy when applicable monthly mortality, fees, and expenses exceed the policy’s cash value. Nonpayment of premiums can cause a life insurance policy to lapse when the policy has no cash value and the premiums are not timely paid.

After the lapse of life insurance, the insured can apply for reinstatement. Reinstatement typically requires submission of an application and involves putting the lapsed policy back in force on the same terms and conditions. Most policies impose a time limit on reinstatement requests and typically require proof of insurability “satisfactory to” the insurer. Reinstatement after death generally is not an option.”

Read More: American Bar Association

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Here From Some Of Our Happy Clients!

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“After years of paying for my life insurance policy, I realized my children were never going to need it. One had already finished medical school and was an accomplished physician and the other was graduating from law school. It seemed pointless to pay the high premiums anymore, and I was just going to let the life insurance policy lapse. Then I spoke with Ecphonisis and they informed me that I could actually sell my life insurance policy. What a boost to the retirement account! I couldn’t be happier with the staff at Ecphonisis, thanks, everyone!”

Frank DiSalvio

Vice President, Allied Rentals

“After I got older and retired my life insurance policy premiums became too much of my household budget. I was worried that if an unexpected bill came up, I would not be able to make the payments. Or worse, I would be forced to let my life insurance policy lapse. I began doing some research online where I discovered that you can actually sell your life insurance policy. It was like music to my ears! You mean I can turn a monthly burdensome bill into positive cash flow? Where do I sign up I thought? I still can’t believe what I got for my life insurance policy. Thanks, Extropy!”

Nancy McCormick

Bakery Chef, La Rochelle Bakery

Legal Disclaimer: Ecphonisis provides access to capital and life settlement underwriting, mortality modeling  and related technology services to businesses, such as life settlement brokers, providers and investors.  Ecphonisis is not a licensed insurance producer, life settlement broker, life settlement provider, an investment adviser, broker-dealer or registered representative. Nothing contained on this website is intended to, and shall not be construed as being, investment, life insurance, tax, estate planning or other financial advice to any person or a solicitation to purchase or broker, or an invitation to sell, a life insurance policy or a security.