What is meant by an antilapse clause, and how do these usually work? Do you believe that all states and all types of policies should have antilapse clauses, and why or why not?

Some states require that insurance companies include an antilapse clause, typically in life insurance policies, that provides a grace period of usually 30 days in which to make an overdue payment. During this grace period, the insurance is effective. If the insured fails to make a payment in those 30 days, the insurer is not allowed to automatically cancel the policy. Student responses will vary on the issue of whether all states and all policies should have antilapse clauses.