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Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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A life insurance payment to Nationwide was postmarked on the

Customer Question

A life insurance payment to Nationwide was postmarked on the due date, but was received a day after the grace period expired. Can Nationwide lapse the policy?
JA: What state are you in? It matters because laws vary by location.
Customer: New Jersey
JA: Has anything been filed or reported?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 1 month ago.
Category: Legal
Expert:  INFOLAWYER replied 1 month ago.

Hello and welcome. I am working on your answer and will be right back!

Expert:  INFOLAWYER replied 1 month ago.

Does the policy measure deadlines by date of mailing or receipt?

Expert:  INFOLAWYER replied 1 month ago.

Normally insurer will not lapse it since they want to continue to get premiums.

Expert:  INFOLAWYER replied 1 month ago.

If insurer resists, ask for a supervisor and consider having a lawyer contact insurer's legal department to secure continued coverage by negotiation.

Expert:  INFOLAWYER replied 1 month ago.

Please let me know if that is clear.

Customer: replied 1 month ago.
the answer is the insurance company is not compelled to accept post mark as date of payment?
Expert:  INFOLAWYER replied 1 month ago.

It is compelled if the due date is defined in the policy as postmark date rather than date of receipt.

Expert:  INFOLAWYER replied 1 month ago.

Regardless, insurers usually do not take issue with a minor delay unless a claim is filed during the potential lapse period. They otherwise want the policy to continue.

Expert:  INFOLAWYER replied 1 month ago.

Kindly let me know if the answer is clearer and now acceptable, thank you.