What does lapsed mean on subscription?
Asked by: Miss Alysa Herman DVM | Last update: August 29, 2025Score: 4.8/5 (30 votes)
What does it mean when a membership has lapsed?
A lapsed member is a member who has lost membership privileges because of unpaid membership fees. Unlike a suspended member, a lapsed member can restore their membership by paying the renewal fee.
Is lapsed the same as expired?
A membership becomes expired on the expiration date specified on the membership record. A membership is lapsed during the time between when it expires and when it is dropped.
What does lapsed status mean?
expired; voided; terminated: a lapsed insurance policy. no longer committed to or following the tenets of a particular belief, obligation, position, etc.: a lapsed Catholic.
What does lapsed stand for?
: having ceased to be active in practice, membership, or belief. a lapsed Catholic.
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Does lapse mean cancel?
Lapse of coverage is distinctly different than cancellation of an insurance policy in that lapse generally does not require notice to you, the insured, whereas cancellation generally does.
What is a lapsed payment?
Simply put, a lapse occurs when premium payments on a life insurance policy are missed and, depending on the type of insurance, the cash value is exhausted. “Lapse” is shorthand for a “lapse in coverage,” which means the policy will no longer pay a death benefit for the insured person.
What does lapsed services mean?
Lapse in Service means a cessation in the provision of a Laboratory Service/Benefit that a facility is approved to provide.
What is a lapsed policy on renewal?
Policy lapse is a situation where you can no longer avail the benefits and cover provided under a policy. Once your policy lapses, you cannot use any feature of the policy and will lose the right to make a claim against it.
What does lapsed option mean?
A Lapsed Option is an option that can no longer be exercised because some necessary condition has expired. Often stock options are granted but have a finite time period within which the options must be exercised. Once the finite period ends, the options that have not been exercised are said to “lapse.”
What does lapsed renewal mean?
A lapsed member is one who has lost membership privileges because of unpaid membership fees. A member's status may be set to automatically lapse if they have not renewed their membership within a certain period following their renewal date.
What does the lapse date mean?
The Offer Lapse Date, found in your offer letter, is the final date to accept your offer. The Enrolment Lapse Date is the last date by which you must enrol in your course (degree) including subjects. This date is outlined in your offer letter.
Has already lapsed meaning?
1. expired; voided; terminated.
Does "lapsed" mean expired?
This adjective can also mean "expired," like your dog's lapsed license, which ran out months ago and you keep forgetting to renew.
How do I renew my lapsed?
You can renew a lapsed Driving Licence after undergoing refresher training with a licensed driving school which will then refer you to the Inspectorate of Vehicles (IOV) for a driving test after paying Shs25,000 (test fees for each class on the driving Driving Licence).
Can I renew a lapsed Costco membership?
If your membership is expired or inactive, you can renew online within 90 days after the date of expiration, or any time in person or by phone. Also, to help make things even easier for you, you can continue using your existing membership cards even after you renew.
What happens when a policy lapses?
A life insurance lapse occurs when you stop paying your policy's premium and the contractual grace period has expired. If you let your life insurance lapse, coverage will end. Depending on your policy, you might be able to reinstate a lapsed policy by meeting certain requirements.
What is a lapsed time period?
A lapse of time is a period that is long enough for a situation to change or for people to have a different opinion about it. If a period of time lapses, it passes. If a situation or legal contract lapses, it is allowed to end rather than being continued, renewed, or extended.
What does lapsed mean policy?
Definition: The policy for which all benefits to the policy holder cease and is terminated due to non payment of premium amount on the due date or even after the grace period is called a lapsed policy. Description: Excessive delay in payments and servicing of the policy leads to the policy being dead or lapsed.
What does it mean when your policy is lapsed?
A lapse occurs when the benefits and rights stated in a contract no longer remain active due to the contract holder failing to honor requirements and conditions set forth by a contract or agreement. A lapse can occur, for instance, due to inaction, the passage of time, or failure to pay what is due.
What is lapsed status?
Lapsed status means the license or registration is null and void, is no longer valid and cannot be reactivated.
How does lapse work?
You use the camera in the app to take your snap, and then wait at least a few hours for it to “develop”. Once it develops, you'll see your photo appear with Lapse's vintage filter. Then, you can decide to either archive it or share it to your journal. Journal: Your journal is essentially your profile.
What does lapsed subscription mean?
no longer being continued or paid: a lapsed subscription.
Can I get my money back if my policy lapsed?
Insurance Lapse Meaning
In such cases, the policy lapses and all benefits and coverages offered are terminated if the due amount is not paid by the end of the grace period. Usually, there is no provision for a lapsed policy refund for insurance policies.
What does becoming on lapsed mean?
: the termination of a right or privilege through neglect to exercise it within some limit of time. (2) : termination of coverage for nonpayment of premiums. the lapse of an insurance policy.