How to Replace Insurance Without Losing Existing Insurance

When replacing existing life insurance, it is important to maintain your current policy until your new policy is approved. To accomplish this, apply for the new life insurance policy about 60 days before your premiums are due on the policy to be replaced. If, for some reason, you are not approved for the new policy, you can still maintain the old coverage. This is the safest (and only) way to replace life insurance.