What is the meaning of Lapse?

Lapse is the termination or discontinuance of a policy, usually resulting from the insured's failure to pay the premium due.

Barry Goldsmith
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APABarry Goldsmith. (2010). lapse. Retrieved September 22, 2026, from http://smartdefine.org/lapse/definitions/1156901
ChicagoBarry Goldsmith. 2010. "lapse" http://smartdefine.org/lapse/definitions/1156901 (accessed September 22, 2026).
HarvardBarry Goldsmith 2010, lapse, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/lapse/definitions/1156901>.
MLABarry Goldsmith. "lapse" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/lapse/definitions/1156901>
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