WHAT HAPPENS IF A LIFE INSURANCE POLICY LAPSES?

In 2023, a significant amount of money in death benefits, inheritance, charitable donations, and cash value went unclaimed as policyholders surrendered their insurance policies.

This unclaimed money represents a loss for both the beneficiaries who were due to receive the benefits and the charitable organizations expecting donations.

Instead, the money flowed back to insurance companies, highlighting the widespread issue of policy surrender. It is essential for policyholders to understand the implications of surrendering their insurance policies and to explore all options available to them before making such a decision. Read more here: https://arandagency.mylivingbenefits.com/blog/the-dollar-amount-of-death-benefit-payouts-that-seniors-65-and-older-forfeit-annually-through-lapsed-or-surrendered-life-insuranc