Licensed insurance salesperson who obtains quotes and plans for clients from multiple sources.
Licensed insurance salesperson who obtains quotes and plans for clients from multiple sources.
The cessation of premium paying for a Whole Life or Endowment policy before the agreed upon time. This ends the coverage, and the insured receives one of the non-forfeiture values. The cessation of a policy that does not have or has not yet developed a cash value is termed a “lapse.”