If I miss a disability premium payment and get a cancellation notice, is there anything I can do to be able to keep the policy?
State law often requires insurers to allow a "grace period" of as much as 30 days after a premium payment is due before coverage can be terminated. If payment is not made within the grace period, however, DI coverage usually will terminate retroactively to the date the premium payment was due without any further cancellation notice from the company.
If your coverage terminates or is canceled because you missed a premium payment, some insurance companies may agree to "reinstate" your coverage if you make all past due payments and you certify that you are not aware of any losses or changes in health that have occurred since policy was issued or the cancellation date. Reinstatement is discretionary by the insurance company. The law usually does not require that policies be reinstated once they have been legally canceled.
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