Why do so many people let their life insurance policies lapse?
Answered by 1 licensed agent
People allow their policy to lapse for different reasons. The most common is they don't feel they can afford it anymore. This could be do to the loss of income or an increase in other expenses. This is why it is important to review your policy each year, not just to check on the price, but to revisit the need that you have and the protection that you are providing for your loved ones. If we stop seeing the value and only see the price, we may give up one of the most important products we could ever purchase.
Answered by Mark Bilgere on May 6, 2026
Agent Licensed in TX, IA, IN & 6 other states
Tags: How Life Insurance Works Rates and Costs
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