insurance lapse

Policy protection interruption

An insurance lapse is the termination of coverage that occurs when premiums go unpaid beyond a grace period.

Once a policy lapses, the insured loses protection and may face higher rates or denial when seeking new coverage: After the insurance lapse, she discovered her car accident wouldn't be covered.

The phrase often appears in discussions of health, auto, and life insurance consequences.

coverageExtent of inclusion
expiredNo longer in effect
premiumAdded cost for better
payment dueSum requiring settlement
policyAdopted principle of action

policy holder · gap · coverage gap · cancellation · reinstatement · unpaid · grace period · void · termination · risk · penalty · notification · final notice · renewal · deadline · protection · health coverage · liability

Opposites

coverage continuity status

insurance lapsepolicy renewal

Extending an existing agreement

covered · automatic renewal

policy maintenance behavior

insurance lapsepremium payment

Fee for insurance coverage

on-time payment · keeping current · good standing · timely payment

coverage status

insurance lapsefull coverage

Protection without exclusions

protected status

Family

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Familiarity: Top 500,000
Profile: Used worldwide · Timeless · Negative · Rated G