What is required for a life insurance policy to remain in force?

For a life insurance policy to remain in force, payment of premiums as stipulated is essential. Life insurance contracts are agreements wherein the policyholder pays a specified amount of money, known as the premium, to the insurer in exchange for coverage that pays out a benefit upon the insured event, typically the death of the insured.

If the premiums are not paid according to the terms of the policy, then the coverage can lapse, meaning the insurer is no longer obligated to provide the benefits outlined in the policy. Each life insurance policy will specify the premium amount, frequency, and methods of payment, making consistent payment critical for maintaining the policy's validity.

Ongoing health questionnaires or renewals are not generally requirements for the continuation of life insurance unless specified under certain conditions or for specific types of policies. Changing the policyholder does not inherently impact the validity of the policy as long as the insurance provider is notified and accepts the change.