What Does Lapsed Mean In Life Insurance? 
The term `` lapsed '' in life insurance means that the policy is no longer providing coverage in the event of the insured 's death . This is usually due to a lack of premium payment . Each policy will provide a grace period -LRB- typically 30 days -RRB- from the premium due date to submit the necessary premiums to keep the coverage going . If the grace period has expired on the policy , you would likely need to apply for reinstatement with payment of back-premiums to put the policy back in force - evidence of insurability may be required depending on the carrier and how long it 's been since the policy lapsed . 