Reinstatement Là Gì

Definition: If an insured person fails to lớn pay the premium due to lớn various circumstances & as a result the insurance policy gets terminated, then the insurance coverage can be renewed. This process of putting the insurance policy back after a lapse is known as reinstatement.Description: Before reinstatement various factors are taken into account. Pros và cons of renewing the policy are considered. The insured person might have to compensate for the failure to lớn pay the premium.Also See: Life Annuity, Paid-up policy

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