What happens if I stop paying premiums on my life insurance policy?

If you stop paying premiums on your life insurance policy with Jackson National Life Insurance, several outcomes may occur. In the short term, your policy could lapse or be canceled if you fail to make premium payments within the grace period provided. In such cases, your coverage will end, and you will no longer be entitled to any death benefit or cash value associated with the policy. However, if you have accumulated cash value within the policy, you may be able to use it to pay premiums or convert it into a reduced paid-up policy or extended term insurance. It is crucial to review the terms and conditions of your specific policy or contact Jackson National Life Insurance directly for comprehensive information on the consequences of ceasing premium payments.