Insurance Lapse

In the fiscal year 2022, the Indian government earmarked around 860 billion Indian rupees for the Ministry of Health and Family Welfare in the Union Budget. Meanwhile, the health technology sector in India witnessed significant private equity and venture capital investments totalling nearly 1,740 million U.S. dollars in 2021.

InsurTechs are set to play a pivotal role in Bangladesh's bancassurance landscape, offering a synergy that propels the insurance sector forward. In this dynamic arena, collaboration emerges as the linchpin for progress, with InsurTechs acting as indispensable tech allies to traditional insurance carriers and banks.

Explore what lapse means in the context of insurance and how to revive a policy once it has lapsed.