google bot detected Lapse | Insurance Glossary | Realestateagent.com

Lapse


Definition of "Lapse"

Jan Demers
  RE/MAX Anchor of Marine Park

  1. in property and casualty insurance, termination of a policy because of failure to pay a renewal premium.
  2. in life insurance, termination of a policy because of failure to pay a premium and lack of sufficient cash value to make a premium loan.



Related Real Estate Glossary terms

Related Real Estate FAQ