What happens if I miss a premium payment?

If you miss a premium payment for your Lincoln National Life Insurance policy, there are a few things that can happen. Initially, you will receive a grace period, usually 30 days, to make the payment and restore your policy to good standing. During this time, your coverage will remain in effect. However, if you fail to make the payment within the grace period, your policy might lapse, resulting in a loss of coverage. In some cases, you may also lose any accumulated cash value or face potential surrender charges. To reinstate the policy after it has lapsed, you will need to fulfill certain conditions and might need to provide evidence of insurability. It is crucial to ensure timely premium payments to maintain the continuity of your coverage.