I had memberships with both local REIAs but I let them lapse since I didn't attend meetings regularly.

My advice is just to get your foot in the door, having a lapse in your coverage is going to be the killer for high costing insurance premiums.

On the NPNs that we've bought, some had PMI (Private Mortgage Insurance) at one time but these policies lapsed because the borrowers went delinquent and previous lenders failed to keep paying the premiums.We purchased one recently, however, where the lender was advancing the premiums.

If they ever lapse or cancel their policy, you will be notified.

This was a lapse of time situation and a tenant who decided not to pay.

If your yearly lease lapses without signing a new yearly lease, the lease automatically converts to a month-to-month.

You need to include the requirement in your lease with the clause allowing you to purchase insurance for them if they lapse it and charge back for the cost.

Otherwise, if the compounding interest reaches your cash value, the policy will lapse.

That way you get notified if policy lapses.

Ask your agent for an inforce illustration at current interest rates and if you borrow 50% of cash value, how long until the policy lapses, and there is no more policy.