Immediate consequences of a missed payment
Most UK life insurance policies include a grace period — typically 30 days — during which your cover continues even if a payment is missed. During this time, no claim would be affected. After the grace period, the policy may lapse.
What happens after the grace period?
If the payment isn't made within the grace period, the insurer will typically:
- Send a notice of lapse or cancellation
- Give you a short window (often 30–60 days) to reinstate the policy by paying the missed premium(s)
- If you don't reinstate in time, the policy lapses — and you lose all cover with no refund of premiums already paid
Can I reinstate a lapsed policy?
Many insurers allow reinstatement within a specified period (often 12–24 months) by paying outstanding premiums. In some cases, you may need to complete new health declarations, which could be problematic if your health has changed.
How to avoid missing payments
- Set up a Direct Debit — the most reliable way to pay
- Ensure sufficient funds in your account on the payment date each month
- Update your bank details immediately if you change accounts
- Consider annual payment if cash flow allows
Frequently Asked Questions
Most UK policies have a 30-day grace period, followed by a reinstatement window. Contact your insurer immediately — don't wait.
It depends on the insurer and how long the policy has been lapsed. Some reinstatements require new health declarations — particularly if your health has changed.