What happens to your disability insurance policy when you miss a payment? Perhaps you moved and never received the bill or you changed banks without notifying the company.

You have a 30 day grace period on all payments before the policy goes into pending lapse.

Once you exceed the 30 day period, you may have the option to go through reinstatement. This requires new medical underwriting and to repay all premiums that were previously due. This can especially be a problem if you have had an adverse change in health.

To avoid missing payments or losing your coverage, be sure to notify your broker or the company of any address or bank changes.