Rgis purchased a $300,000 20-year term life insurance policy when he was 35 years old. For 16 years, Rgis paid his annual premium before the due date. He forgot to pay the next annual premium and his polioy lapsed on June 2, 2016. Rgis realized his mistake on July 15, 2017. Still in good health, he wants to continue benefiting from the same amount of insurance coverage. On the same day, he consults Luc, his financial security adviser. What advice should Luc give Rgis?

Answer rating: 100% (QA)

Luc should advise Rgis to contact the insurance company as soon as possible to discuss his options f... View the full answer