Check my policyHome / Sell my policy / Lapsed policy
Sometimes. A lapsed policy can be sold only if it can still be reinstated, or if it didn't really end: some policies are kept going by an automatic premium loan or converted to a paid-up policy when premiums stop. Your insurer's records decide which applies.
Last reviewed 15 October 2026
People say a policy has lapsed in three different situations. Only the last two leave something to sell.
Premiums stopped, the grace period passed and the policy ended with no value left. Only reinstatement can bring it back.
The insurer paid the missed premiums by lending against the cash value. The policy is still in force, with a loan to account for. Selling with a loan
Some policies become paid-up, with reduced cover and no more premiums. A paid-up policy may still have a value worth selling. Paid-up policies
Reinstatement is between you and your insurer, and happens before any sale.
Insurers allow reinstatement only within a set period after lapse. Your policy terms state it.
Usually the missed premiums, with interest. A large gap can make reinstatement expensive.
The life assured may need to declare their health, and sometimes have a check, before the insurer agrees.
Once the policy is back in force, it can be kept, surrendered or valued for a sale like any other. Compare your choices
Reinstate only if what you would get back, by keeping, surrendering or selling the policy, is clearly more than the reinstatement costs. Ask your insurer for both figures on the same day before you pay anything.
If the gap is small, or the life assured's health has changed, letting the policy go and arranging new cover where needed may be the better choice. Replacing your cover
Only if it can be reinstated, or is still in force under a premium loan or paid-up terms. A policy that ended with no value has nothing left to sell.
Each insurer sets its own period in the policy terms. Ask yours before the date passes.
If it had a cash value, your insurer may pay what is left after any loan, or have converted the policy instead. Ask for a statement.
No. Reinstatement happens while the policy is still yours, so it is between you and your insurer.
Tell us what your insurer says and we tell you whether a sale is possible. No NRIC, no obligation.