1. If it is short-term insurance with an insurance period of one year or less, and it is not an additional risk of long-term life insurance or health insurance with an insurance period of more than one year, it can be re-insured at any time. The observation period or waiting period of the disease is recalculated.
Second, if it is a long-term life insurance or health insurance for more than one year, you can apply for restoring the validity of the policy within two years from the date of expiration. The insurance company does not assume the insurance liability during the expiration period, and pays the premium and interest to restore the effectiveness of the policy. The observation period or waiting period of illness is recalculated, and the health status is truthfully informed. Under normal circumstances, restoring the effectiveness of the policy requires re-underwriting.
Three, if the policy expires for more than two years, the policy is permanently invalid and can only be surrendered according to the cash value stated in the policy, which will bring economic losses.
Therefore, it is suggested to pay the renewal premium in time to avoid the invalidation of the policy, resulting in unnecessary interest loss and loss of protection during the invalidation period. More attention should be paid to avoid unnecessary economic losses caused by the permanent invalidation of the policy.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.