Question

What is lapse in insurance ?

A Termination of an insurance policy due to the insured’s failure to pay the premium.
B It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident
C It is a policy that pays benefits to the beneficiary if any emergency occur
D It is a policy that pays benefits to the beneficiary if the cause of death is an accident
E Both 1 and 2
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