lapse

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Related to lapsing: call on, so far, brought out, took over

lapse

Health insurance Termination of coverage due to nonpayment within a specified time period
References in periodicals archive ?
In particular, surrender fees always apply in case of lapsing before maturity in the German life insurance market.
According to the Service, the lapsing of a restriction because of a "highly speculative" event was not inconsistent with a nonlapse restriction, in that Sec.
An overloan protection feature, which may be exercised for a one-time transaction fee, can prevent heavily loaned policies from lapsing.