I hav a life insurance with family first phils but havnt paid premiums for almost 2yrs now. can i activate it

Question

I hav a life insurance with family first phils but havnt paid premiums for almost 2yrs now. can i activate it

Answer 1

Many life insurance policies have a two year reinstatement period - if you are still healthy you can get the policy reinstated.  You might have to pay all the outstanding premiums.  This can be worth it in the long run in some cases.

It will say right in your policy if this is an option.

I am not familiar with family first phils.  

Good luck

Answer 2

If you contact the company you may be able to reinstate the policy for the same rates that you had before.  You will have to go through underwriting again.  

If the policy was a cash value policy, then the policy might still be active and just paying the premiums out of the cash value.  

You just need to contact the company and see what your options are.

Answer 3

My understanding of life insurance policies is that if you don't pay the premium (even once) you are letting the policy lapse and it is no longer in effect. It is up to the company if they will let you have a new policy on the same terms, so contact them.

Answer 4

I don't know what family first phils is but, If you had term insurance the policy has expired. If you owned a universal life policy it is possible the policy is still working by using the cash value to pay the premiums. Call the company and ask them.