If I enter military service and cannot pay the insurance premiums on my life insurance policy, does this mean that I lose coverage?
Untitled
No. The SCRA provides that if you have life insurance as collateral, or credit life in connection with a loan, Sections 541 - 547 protect you from lapse of coverage due to nonpayment of premiums.
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No. The SCRA provides that if you have life insurance as collateral, or credit life in connection with a loan, Sections 541 - 547 protect you from lapse of coverage due to nonpayment of premiums.
