Insurer
Insured
Both Insurer & Insured
None of the above
✅ The correct answer is D.
A lapsed policy means that the benefit of insurance will not be available to protect the financial interest of the dependants in the event of the death of the insured.
A lapsed policy means that the benefit of insurance will not be available to protect the financial interest of the dependants in the event of the death of the insured.