Lapse

 

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Lapse

In insurance terminology, a policy is deemed to have lapsed when the policyholder fails to pay the renewal premiums. Also, it may be that the insurers do not invite renewal.



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Lapsed option

Lapsed option

An option that no longer has any value because it has reached its expiration date without being exercised.


Lapsed option

Lapsed option

The expiry of an option without being exercised by the holder. In the UK this is known as abandonment.




 
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