08/11/2022
HELLO MY DEAR CLIENTS, PLEASE TAKE TIME TO READ βββ
Please don't let your Life Insurance lapse.
Our obligation is to fulfill our PROMISE, to give you and your family the coverage and benefits na pinangako namen nung kumuha kayo ng policy. Sa kabilang banda, as a client your obligation is to pay the premiums on time and/or required paying period.
We all know that may mga pangyayari sa buhay naten na biglaan at hindi inaasahan, as a Pru Life UK Advisor, naiintindihan ko po yan, kung magkaproblema po kayo, imbes na hindi ninyo kame kausapin. Huwag po kayong matakot na magsabi sa mga Advisors ninyo. Pwede naman po tayo magtulungan. π
β What is a Lapsed Policy?
A policy is βlapsedβ when the policy holder misses the premium payments and when the account value of the insurance policy has already been exhausted.
β Important points to know about policy lapses.
A policy lapse occurs only after a grace period - kapag po namiss naten ang due date ng ating policy, hindi po automatic na maglalapse ang policy, binibigyan po tayo ng grace period up to 30 days. Once this grace period expires and your premium still remains unpaid, saka lang ito maglalapsed
It is possible to reinstate a lapsed policy. - all is not lost, kung naglapsed po ang inyong policy, pwede naten siyang reinstate within 3 years simula nung naglapsed sya. Depende din po sa kung anung klaseng policy ang nakuha ninyo.
Taking measures to ensure timely premium payment can help avoid a lapse. We can set up auto debit / scheduled payment para hindi naten makalimutan yung mga due date naten and most of the time nagreremind naman si Manulife at ang inyong advisors about it.
Itβs advisable to not let your policy lapse. - Even though there are steps you can take para mareinstate ang policy mo, maaring hindi ka ma approve kung may pagbabago sa health mo, marerestart din yung 2 years contestability period once marevive na ito.
