July 12th, 2009 | 
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Michael asked:
We paid the AIG term life insurance for more than 3 years, and lately my wife just found out she has a tumor, and we also found out her insurance is lapsed. What can I do now, and will the insurnace company reject her policy even we try to reinstate it. The grace period is gone also. Thanks.
Boris Wehausen
We paid the AIG term life insurance for more than 3 years, and lately my wife just found out she has a tumor, and we also found out her insurance is lapsed. What can I do now, and will the insurnace company reject her policy even we try to reinstate it. The grace period is gone also. Thanks.
Boris Wehausen
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The grace period has lapsed she would have to apply for new policy.
For the policy is no way to reinstate her if she wont you have to 10000.
How long has the policy been lapsed?
Sorry, to say its probly too late to reinstatement. But tumor’s can be treated and cured so hang in there.
After a couple of years of treatment she may be able to reapply for life insurance.
The insurance with tumor she would not qualify had enough cash value in it to 15000 of term policy it which is doubtful the reason term policy it in force by use of.
You will have to get a new policy. They have some term with limited medical questions and no exam.
No, they won’t reinstate because you have to requalify for the policy.