How to get back money against a lapsed policy?

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PostPosted: Sun Apr 14, 2013 2:59 pm   Post subject: How to get back money against a lapsed policy?  

My policy has been lapsed. Whether I will get back my money or not. If yes, kindly let me know the procedure.


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pkchand
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PostPosted: Sun Apr 14, 2013 3:04 pm   Post subject:   

Technically the definition of a lapse is termination before a policy has cash surrender value.



But there are more details needed to begin answering your question.



1. What type of policy was this?



2. How old was the policy?



3. Why did it lapse?



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PostPosted: Mon Apr 15, 2013 8:00 pm   Post subject:   

If it's a term policy, there isn't any cash value, however a whole life or universal life might have value depending on how long you paid on it. The value comes from cash surrender, extended term insurance or reduced paid up. Your agent should be able to tell you more.

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PostPosted: Sun Sep 22, 2013 5:12 am   Post subject: Money back policy lapsed..  

My 20 yrs money back policy is lapsed. I paid 4 yrs premium amount. When will I get the money? My policy no.3xxxxxxxx kindly reply my policy.


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Anish Kumar
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PostPosted: Mon Sep 23, 2013 4:50 am   Post subject:   

You'll get it at the end of the who term of the policy - that means after 20 years.



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PostPosted: Mon Sep 23, 2013 6:50 pm   Post subject:   

Quote:
You'll get it at the end of the who term of the policy - that means after 20 years.
Just another example of a poster who cannot read.

Quote:
My 20 yrs money back policy is lapsed
If your policy has lapsed, you have lost the possibility of a premium refund. To obtain a full refund of premiums paid, you would have had to continue the policy by paying premiums for 20 years.



You may be eligible to reinstate the policy by proving insurability and paying the past due premiums (possibly with interest). Then you can pay premiums for 16 more years and receive a refund if you have not yet died.


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