When you stop making premium payments on a whole life policy,the protection is immediately forfeited.

Question

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When you stop making premium payments on a whole life policy, the protection is not immediately forfeited. Instead, the policy may have a grace period during which you can make up missed payments before the policy lapses. Additionally, if the policy has accumulated enough cash value, it may be possible to use that value to pay premiums or convert the policy to a paid-up status.

When You Stop Making Premium Payments on a Whole Life