Life is uncertain, and so are deadlines. Missing a premium payment might not seem like a big deal at the time, but it can lead to a policy lapse—a situation that can cost you your peace of mind and financial security. But don’t worry! If your insurance policy has lapsed, you still have options.

Here’s a simple, clear guide to help you understand what to do next.

What is a Policy Lapse?
A policy lapse happens when you fail to pay your premium within the grace period provided by the insurer. This means your insurance coverage is no longer active, and any claim during this time may be rejected.

Steps To Take If Your Policy Has Lapsed
1. Check the Grace Period
Most insurance companies offer a grace period (15 to 30 days). If you're still within this timeframe, you can pay the pending premium without penalties or medical tests.

2. Contact Your Insurance Provider
Reach out to your insurer or agent immediately. They can tell you if your policy can still be revived and guide you on the process.

3. Understand Revival Options
Insurers typically offer two types of revival:

Ordinary Revival: Pay the pending premiums with interest.

Revival with Medicals: For long-lapsed policies, a medical check-up may be required.

4. Submit Required Documents
You might need to submit:

Revival application form

Health declaration or medical test reports (if required)

ID and address proof

5. Pay Premium and Dues
Clear all the pending premiums along with any applicable interest or charges.

What If Revival Isn’t Possible?
If the policy cannot be revived:

You may receive a surrender value, depending on the policy type and duration.

You can consider porting to a new policy (in case of health insurance).

Consult with experts like Claim Nidan to explore your options smartly and securely.

How Claim Nidan Helps You
At Claim Nidan, we specialize in helping policyholders who face claim rejections, policy lapses, or confusion regarding insurance processes. Our experts guide you every step of the way—because your peace of mind is our priority.

Conclusion:
A lapsed policy is not the end—it's just a signal to act fast. With the right steps and professional guidance, you can revive your policy or make an informed switch. Don't let a missed payment cost you your protection.

Need help reviving your lapsed policy?
Contact Claim Nidan today and get expert advice you can trust.