What happens if I miss a premium payment for my life insurance policy?

If you miss a premium payment for your life insurance policy with Ameritas Life Insurance Company, there are a few possible consequences. Initially, a grace period is usually allowed, giving you a limited time to pay your premium without incurring any penalties or lapses in coverage. However, if you fail to make the payment within the grace period, your policy could potentially lapse, resulting in the termination of your coverage. In such cases, you may lose all the benefits associated with the policy, and any accrued cash value could be forfeited. It is important to promptly contact Ameritas to discuss your situation and explore alternatives to reinstate your policy or maintain your insurance coverage without interruption.