What is Lapse in Life Insurance?

What does lapse in your life insurance policy mean?A lapse in life insurance means a termination or end of the life insurance coverage because of failure to pay your premium, and lack of sufficient cash value inside the policy to make a loan.For example, if you own a life insurance policy and your monthly premiums are $20 and they are due on the 15th of each month:If you have not paid your life
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