A life insurance policy lapses when it ends because premiums were not paid, and what that means in practice depends on the insurer: the time allowed after a missed payment, whether the policy can be restarted and what happens to a claim all differ between the insurers' documents quoted below. Most of them say "cancel" or "end" where people search for "lapse".
If a policy is slipping because the price no longer fits, a broker authorised by the FCA can put your current circumstances to insurers and talk through comparable cover. This page's quote form asks for that call back; it is free and takes a few minutes.
This page is about payments that stop; cancelling on purpose is covered in what happens if you cancel life insurance.
What does it mean when a life insurance policy lapses?
It means cover has ended because a premium went unpaid for longer than the insurer allows. The word "lapsed" appears in Legal & General's Life Insurance terms (QGI12849, October 2026): "If your policy has lapsed due to missed payments prior to any claimable event occurring, you won't be covered, and your claim won't be paid." Other insurers describe the same outcome as cancelling the policy (Aviva, LV=, Royal London, Scottish Widows) or, in Vitality's case, suspending the covers, which leaves a route back described below.
A lapse is not the same as a policy reaching the end of its term, which is the subject of how long term life insurance lasts. Nor is it always a choice: LV= says it will contact you if a payment does not arrive, in case of an error you were unaware of.
How long do you have to pay after a missed premium?
Each document sets its own limit:
| Insurer and document | Time allowed | What the document says happens next |
|---|---|---|
| Aviva, Life Insurance Plan conditions (DA03011, May 2023) | 60 days from each due date | The policy is cancelled and no claim can be made |
| Legal & General, Life Insurance terms (QGI12849, October 2026) | 60 days after the due date | The policy is deemed cancelled and cover ends automatically; premiums paid are not refunded |
| LV=, Life Protection Policy Conditions (MIMILP16, file dated March 2026) | 60 days from the due date | The policy is cancelled, with no refund and no claim |
| Royal London, Personal Menu Plan details (July 2025; an advised plan, adviser site) | A premium five weeks overdue | The plan is cancelled and you are no longer covered |
| Scottish Widows, Protect Personal Protection summary (61041 01/26, adviser site) | Three payments missed in a row | The policy is cancelled and you get nothing back |
| Scottish Widows, Plan & Protect Life Cover summary (60292(D) 10/25, adviser site) | Three months' payments missed | Cover is cancelled three calendar months from the first missed payment |
| SunLife, Guaranteed Over 50 Plan terms (S-G050T12.25.V3) | 30 days after its letter, then a further 14 days after a reminder | The plan is cancelled and nothing comes back |
| Vitality, Personal Protection Plan Provisions (09/24, archived copy of April 2025) | The due date | All covers in the plan are suspended |
Zurich's Life Protection key features (02/25) say that if you stop paying, "your cover and policy will end", without giving a number of days; ask Zurich how long it allows. Your own policy conditions are the ones that apply to you, and a policy sold through a bank or an older book may differ.
A claim in the allowed period is treated differently too. Aviva says it will "deduct the unpaid premium from any benefit we pay", and Royal London's Over 50 terms (undated, code D2COFTC122078100) say a claim in their 60-day window "would be reduced by the amount of any unmade payments".
Can a lapsed life insurance policy be reinstated?
Four of the documents quoted here describe a route back, each with conditions and a short window:
- LV=: if the policy stopped for missed premiums, you can ask it to start again "within six months of the first missed payment". You answer health questions and make up the missed payments; if your health has changed it might need you to take a new policy or accept different terms, and it is "not required to agree to restart it".
- Vitality: you can ask to reinstate "within seven months of the date of the first unpaid plan premium". You pay the outstanding premiums, at any increased amounts, and everyone covered completes a reinstatement application for underwriting. Vitality "may offer you revised terms, or decline your request".
- SunLife: a plan cancelled for an unpaid premium can continue if you pay all the unpaid premiums within 6 months of the first one, and the plan then continues with the same cash sum and premium.
- Royal London, Personal Menu Plan: you can ask it to restart a cancelled plan, but it will ask about changes to health, occupation or leisure activities since the start, "so there may be times when we can't restart your plan".
Royal London's Over 50 terms are stricter: unless it has agreed otherwise, once 60 days have passed you cannot resume or make up the payments. For Aviva, Legal & General, Scottish Widows and Zurich, ask the insurer whether a lapsed policy can be restarted, within what time and on what terms.
If a restart is refused, or offered on different terms, a broker authorised by the FCA can approach other insurers about cover for your present circumstances. Ask for that call through the quote form here; it costs nothing.
Do you get any money back, or a cash value, when cover lapses?
Not under any of the policies quoted on this page. Aviva, Legal & General, LV=, Scottish Widows, Zurich and SunLife each say premiums already paid are not refunded when the policy ends for non-payment, and the Aviva, Royal London Personal Menu Plan, Scottish Widows, Vitality, Zurich and SunLife documents each state that the policy has no cash-in or cash value. A savings-type policy is a different contract, covered in whether you can cash in a life policy.
What happens on an over-50s plan if you stop paying?
Royal London's Over 50 Life Insurance terms, meant for people aged between 50 and 80 wanting a payout of up to £10,000, give 60 days from a missed payment; pay the full amount in that time and the policy "won't be affected". After that:
- If less than half the payments between the start and the Final Payment Date have been made, Royal London cancels the policy, nothing is paid back and no payout is due.
- If more than half have been made, the policy still qualifies for a payout under its Payout Promise of "at least half of your full Payout", the amount depending on how many payments were made.
SunLife's plan, as above, cancels with nothing returned but has a six-month route back. Legal & General's Over 50s Fixed summary (QGI12836, November 2025) says a plan is cancelled, with nothing back, if premiums stop when due. These are three plans' wording, not a rule for the whole over-50s market; the general picture is in life insurance over 50.
What can you do if money is tight?
Getting in touch before a payment is missed is what these documents point to, though what is on offer differs:
- Royal London's Over 50 terms say "If you're struggling to make payments, please get in touch". You can ask to reduce the monthly payments, which reduces the payout, or, on this plan, ask for a payment holiday: after the first year you can ask for a break of up to six months, with up to 2 holidays at least 12 months apart. After each, you either make up the missed payments or accept a proportionally smaller payout, and a claim accepted during a holiday is reduced by the unmade payments.
- LV= asks you to contact it, or your financial adviser, if a change in circumstances rather than a wish to end cover is behind cancelling, so that other options can be looked at.
- Aviva's Life Insurance Plan summary says you can change the amount of cover or how long the policy lasts, though it may change or replace the original policy and may ask for health and lifestyle information.
For any other policy, ask the insurer whether it offers a break in payments and what that would do to the cover. If bills beyond this policy are the problem, MoneyHelper's debt advice page (archived October 2026) says: "You can get free, confidential advice from a trained and experienced debt adviser." If you are weighing a replacement policy, how to switch life insurance companies covers the order in which one ends and another starts, and how long you need life insurance and how much cover you need cover the questions behind a smaller or shorter policy. More options are in changing your cover.
Frequently asked questions
What is a grace period in life insurance?
It is the time between a missed due date and the day the insurer ends the policy. The documents above state it as a number of days, weeks or months, such as 60 days for Aviva, Legal & General and LV=, and five weeks for Royal London's Personal Menu Plan.
How long is the free look period when you start a policy?
Aviva calls it a cooling off period. Aviva, LV= and Vitality each give 30 days to cancel with a refund, counted from slightly different starting points and, for Vitality, only if you have not claimed; the cancellation page covers it in more detail.
Do life insurers offer premium holidays?
Royal London's Over 50 plan does, on the conditions set out above. For any other policy, the insurer is the one to ask.
Anyone weighing options before a policy ends can request a call from an FCA-authorised broker through the quote form here, free of charge.
Sources
- Aviva, Life Insurance Plan policy conditions (DA03011 05/2023), read 20 October 2026. aviva.io
- Aviva, Life Insurance Plan policy summary (DA03008 05/2023), read 20 October 2026. aviva.io
- Legal & General, Life Insurance Policy Terms and Conditions (QGI12849, October 2026), read 20 October 2026. legalandgeneral.com
- Legal & General, Over 50s Fixed Life Insurance policy summary (QGI12836 11/2025), read 20 October 2026. legalandgeneral.com
- LV=, Life Protection Policy Conditions (MIMILP16, file dated 25 March 2026), read 20 October 2026. lv.com
- Royal London, Personal Menu Plan, Life or Critical Illness Cover, plan details (July 2025, PCP8P10010/17), adviser site, read 20 October 2026. adviser.royallondon.com
- Royal London, Over 50 Life Insurance Terms and Conditions (D2COFTC122078100, undated), read 20 October 2026. royallondon.com
- Scottish Widows, Protect Personal Protection policy summary (61041 01/26), adviser site, read 20 October 2026. adviser.scottishwidows.co.uk
- Scottish Widows, Plan & Protect Life Cover policy summary (60292(D) 10/25), adviser site, read 20 October 2026. adviser.scottishwidows.co.uk
- Vitality, Personal Protection Plan Provisions (VLTD114205WF 09/24), archived 8 April 2025, read 20 October 2026. web.archive.org
- Zurich, Zurich Life Protection key features (NP720500009, 02/25), read 20 October 2026. zurich.co.uk
- SunLife, Guaranteed Over 50 Plan Terms and Conditions (S-G050T12.25.V3), read 20 October 2026. sunlife.co.uk
- MoneyHelper, Debt advice locator (archived 13 October 2026), read 20 October 2026. web.archive.org