What Makes Life Insurance Void? 
Not paying the premium is the most common way of making life insurance void . There is a one month grace period after the premium is due for a term policy . If not paid by the end of that month , the policy will lapse and would not pay out the death benefit if death occurred . Permanent policies can use cash value to pay the premium , but you need to set the policy up that way . Suicide will void a life insurance policy if it occurs during the first two years of the policy . So will death due to illnesses or other risk that were present and known about at the time of filling out the application , but were left out or lied about on purpose . For the policy to be void , death generally must occur within the first two years due to a cause related to those misrepresentations or omissions . 