I received a "Notice of Lapse". What does that mean?
The premium due on your Savings Bank Life Insurance policy was not paid before the end of the grace period, which caused the policy(ies) to lapse.
On term policies, a lapse means that the coverage has terminated. On permanent policies such as straight life (whole life insurance), a lapse means that coverage for a reduced amount is continued for life or that full coverage is provided for a limited time. As the missed payment could have been due to an oversight, we attempt to notify you as soon as possible. That is the reason for sending to you the "Notice of Lapse."
To apply for reinstatement of your SBLI coverage, simply follow the instructions on the "Notice of Lapse." The completed form and a check made payable to SBLI for the overdue premium should be mailed to our office.
Note: When contacting our call center, you will be requested to provide positive verbal identification as a policyowner.
Our mailing address is:
SBLI
P. O. Box 4048
Woburn, MA 01888-4048
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How do I reinstate my lapsed policy?
To apply for reinstatement of your SBLI coverage, simply follow the instructions on the reverse side of the "Notice of Lapse". The completed form and a check made payable to SBLI for the overdue premium should be mailed to our office.
If you do not have an application for reinstatement, contact the SBLI Call Center toll free at 1-800-694-7254. A representative will be available to assist you each business day Monday - Friday, 8:00 A.M. through 6:00 P.M. (ET).
Please note: Depending upon the date of issue of your SBLI policy, there may be a time limit placed on the policyowner's right to apply for reinstatement.
- Policies issued prior to December 15, 1939, No time limit.
- Policies issued December 15, 1939 to April 2, 1962, 3 years from the date of lapse.
- Policies issued since April 2, 1962, 5 years from the date of lapse.
Note: When contacting our call center, you will be requested to provide positive verbal identification as a policyowner.
Our mailing address is:
SBLI
P. O. Box 4048
Woburn, MA 01888-4048
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What is a "free revival"?
All SBLI policies have a one time "Free Revival." This means that the policy may be reinstated without evidence of insurability if all back premiums are paid and an application for reinstatement is received in this office within 30 days of the date of lapse (60 days from actual premium due date). This is a one-time privilege, which must be exercised within the specified period. It is not available on all policies.
Note: When contacting our call center, you will be requested to provide positive verbal identification as a policyowner.
Our mailing address is:
SBLI
P. O. Box 4048
Woburn, MA 01888-4048
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