B. Policy Riders, Provisions, Options and Exclusions-Reinstatement Provision

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Must furnish evidence of insurability

Reinstatement Provision

Must pay all back premiums plus interest

Reinstatement Provision

a. Applies when a policy lapses at the end of grace period b. Allows insured to apply for reinstatement for up to five years after a lapse

Reinstatement Provision

d. A policy surrendered for cash may not be reinstated.

Reinstatement Provision 1. Insured maintains original age

e. You do not need to re-establish insurable interest in order to reinstate

Reinstatement Provision 1. Insured maintains original age

f. Incontestability clause and suicide clause both start over on reinstatement

Reinstatement Provision 1. You only need insurable interest at time of application

c. If approved, original policy is reinstated

Reinstatement Provision 3. Must repay all policy loans, plus interest


Kaugnay na mga set ng pag-aaral

Eight Sushi Lounge (Bucket List, Mind Boggling, To Share, This & That)

View Set

Domain 6: Security assessment and testing (11th)

View Set

Using Resources and Reference Materials for Editing

View Set

Micro HW Practice Questions - ch 19, 32, 33

View Set

Essentials of pharmacology Chapter 17

View Set

Managerial Accounting-Chapter 11: Performance measures in a decentralized organization

View Set

BIO 151 Cytoskeleton and Muscle Contraction Unit 1 Week 2

View Set