Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Track & Policy DownloadLogin

Lapsed Policy

A life insurance policy lapses in case the life assured is unable to make the due premium payment on time, during the grace period or even after the grace period ends. Once the life insurance policy has lapsed, the life assured will not be able to avail coverage benefits of the life insurance policy. The life assured can revive the lapsed life insurance policy during the revival period.

dot
1 Crore Life Cover starting from just ₹16/Day*
1 Crore Life Cover starting from just ₹16/Day*
  • Tax Benefit
    Tax Benefit
    Up to 1,50,000**
  • Claim Support
    Claim Support
    Everyday 10AM-7PM
  • 45 Lacs+
    45 Lacs+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

Find the right life insurance for you
By clicking, I agree to *terms & conditions and privacy policy.

A Lapsed Policy

If the life assured does not pay the premium amount during the grace period or even after the grace period, the life insurance will lapse. At this stage, the life assured will not be able to enjoy coverage benefits available under the life insurance policy and will also not be eligible to receive any death benefit. There is a way to sort this out which is Revival/Reinstatement of the life insurance policy in the given time period.

Mostly, life insurance policies have a revival period under which the life insured can choose to revive his/her lapsed life insurance policy.
To revive the life insurance policy, the life insured will have to submit the proof of continued insurability along with supporting documents that vary from one insurance provider to another. The due premium payment will be made along with applicable charges that depend on the insurance providers. The insurance company can also ask the life assured to undergo a medical examination at the time of renewal.

Term Life Insurance Premium Calculator

Gender

  • Male
  • Female

Date of Birth

calendericon

Do you smoke or chew tobacco?

  • Yes
  • No

Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

How to Revive a Lapsed Life Insurance Policy?

You can revive your lapsed life insurance within the revival time period provided by the life insurance policy. The process to renew your life insurance policy is as mentioned below:

  • Revival within 6 months from the date of policy lapse: If you want to apply to revive your life insurance policy within 6 months from the date it got lapsed, the process will be simple. You can easily revive your life insurance policy by contacting the insurance provider and making the overdue premium payments with interest. You can also choose to revive your life insurance policy from the official website of your life insurance provider.
  • Revival after 6 months from the date of policy lapse: In case it has been more than 6 months from the date when your life insurance policy lapses, you apply for revival and pay the overdue premiums along with interest which is fixed by the insurance provider. Penalty shall also be levied depending on the terms and conditions of the insurance provider. In some cases, the revival of your life insurance policy depends on the discretion of the insurance company. The insurance company can increase the premium or ask you to undergo medical tests in order to assess your present health condition.

Life Insurance Companies User Reviews

What users are saying
  • Securing Family

    I was looking for a meaningful gift for my niece’s wedding when I came across the Life Insurance policy from InsuranceDekho. I gifted her LIC Life Insurance, and there couldn’t have been a better gift for her future. Thank you, team. You are doing a wonderful job. 

    S
    LIC
    By Sandeep Bishnoi
    On: June 24, 2024
  • Perfect Gift for my family

    My parents are getting older, I surprised them with a life insurance policy from Bajaj Allianz Life Insurance. I purchased it through InsuranceDekho; the process was smooth and a totally easy breeze. Thank you team, for helping me secure my family.

    A
    Bajaj Allianz
    By Asraf Ali
    On: June 24, 2024
  • User-Friendly Portal

    InsuranceDekho has helped me find a perfect Life Insurance Plan from ICICI Prudential. It fits my budget and all my family's needs. Thanks to the online premium calculator, I was able to compare all my plans before making a decision. They have such an easy-to-use portal. Recommend to everyone. 

    J
    ICICI Prudential
    By Jipin TP
    On: June 21, 2024
  • Supportive team

    Insurancedekho helped me understand the importance of a joint life insurance plan for both me and my wife. Based on their recommendation, we bought HDFC Life Insurance. Their advice has come in handy, and now we enjoy the benefit of safety it provides. Thank you so much, team. 

    K
    HDFC
    By Karthick arjuna
    On: June 21, 2024
  • Customer Satisfaction

    My child has special needs, and upon referral from my family friend, I bought PNB MetLife Insurance for my kid from InsuranceDekho. Shruti from the customer support team helped me at every stage, and now my family has financial security for their care after I am gone. Thank you. 

    N
    PNB Met
    By Niliska D’Souza
    On: June 21, 2024

Life Insurance News

Best Insurance Advisors in Your City.