What is true about the reinstatement provision?
Asked by: Evangeline Wintheiser | Last update: December 15, 2025Score: 4.2/5 (68 votes)
What are reinstatement provisions?
A life insurance reinstatement provision allows policyholders to restore a lapsed policy to active status after it has been terminated due to missed premium payments. Life insurance companies often have a reinstatement clause allowing you to restore lapsed coverage within a specified time frame.
Which of the following is true concerning reinstatement of a life insurance policy?
Final answer: The true statement about the reinstatement of a life insurance policy is that companies have the right to require medical examinations. Back premiums typically must be paid, and proof of insurability is usually required.
What is the reinstatement provision of the health insurance policy?
The reinstatement provision allows the restoration of a policy that lapsed due to late premium payments back to its original active status rather than being considered canceled and reissued.
What is the reinstatement provision of the office?
Office reinstatement, often referred to as office handover, involves restoring a leased office space to its original state before handing it back to the landlord. This process typically includes dismantling and removing partitions, furniture, electrical wiring, and other installations added by the tenant.
Reinstating the Mortgage and Reinstatement Quotes
What is true about reinstatement provision?
The correct statement about the reinstatement provision is that it requires the policyowner to pay all overdue premiums with interest before the policy is reinstated. Reinstatement provisions typically allow policyholders to reinstate a lapsed insurance policy within a certain period, usually 2-3 years, not 10 years.
How does reinstatement work?
What is Reinstatement? Reinstatement allows you to reenter the Federal competitive service workforce without competing with the public. Reinstatement eligibility enables you to apply for Federal jobs open only to status candidates.
What is a reinstatement of insurance policy?
Key Takeaways
Reinstatement in the insurance industry means a person's previously terminated policy can resume if the already insured meets the specific requirements for reinstatement. Typically insurance companies offer policyholders a grace period for late payments before a policy terminates.
What is the automatic reinstatement provision?
'Automatic reinstatement' is a provision in insurance policies which allows for the amount insured (the limit of indemnity or liability) to be reinstated (restored) for new, unrelated claims, after one or more claims has been paid to the limit of the amount insured.
What is not correct about the reinstatement of a health insurance policy?
The incorrect statement about the reinstatement of a health insurance policy is the assumed 45-day approval period for the reinstatement application. Reinstatement procedures typically include the repayment of back premiums and may require proof of insurability but do not have a universal 45-day rejection assumption.
What is the principle of reinstatement?
The reinstatement valuation clause is based on the principle of indemnity. It means the policyholder should be restored to the same financial position as before the loss or damage, no more and no less.
Which of the following is a reinstatement condition?
Final answer: The reinstatement condition for an insurance policy is proof of insurability. This is when insurers require evidence that the individual or property meets their underwriting criteria upon policy lapse. Premium changes are not conditions of reinstatement but are related to pricing adjustments.
What is the reinstatement premium for insurance?
A reinstatement premium is a prorated insurance or reinsurance premium charged for the reinstatement of the amount of a primary policy or reinsurance coverage limit that has been reduced or exhausted by loss payments under such coverages.
How long is a reinstatement provision?
This section mandates that an employee who is terminated from a temporary or limited-term appointment, rejected during probation, or demoted from a managerial position, pursuant to Government Code Section 19590, shall be reinstated to the position they held at the time they accepted the appointment, provided there was ...
What is the reinstated rule?
Reinstatement refers to the act of restoring someone or something to a former position, status , or condition . In the context of employment , reinstatement typically occurs when an employee who was wrongfully terminated , suspended, or laid off is returned to their previous job position.
What is rights of reinstatement?
1 A RoR allows a customer to redeem or sell shares in the fund and reinvest some or all of the proceeds, and receive a waiver of the sales load or a rebate on the CDSC, within a specified period of time (for example, 90 days), in the same share class of that fund or another fund within the same fund family subject to ...
What is the reinstatement provision in a health insurance policy?
A reinstatement provision allows a policyholder to reinstate a lapsed policy to its original status after paying the outstanding premium.
What is reinstatement eligible?
Reinstatement eligibility refers to the ability of those individuals who previously held a career or career-conditional appointment to apply for jobs in the competitive civil service that are open to status applicants.
What happens if reinstatement is denied?
If your application for reinstatement is denied, you will be required to depart the U.S. immediately and would need to apply for a new I-20 before re-entering the U.S. If you decide to regain status by travel and are denied reentry at the border, you may be required to return home immediately from the port of entry.
Which of the following statements about the reinstatement provision is true?
Out of the given options, the accurate statement is: 'It requires the policy owner to pay, with interest, all premiums that are in arrears in order for the policy to be reinstated. ' This means the policy owner must pay all overdue premiums, plus interest, to bring the policy back into effect.
What is reinstatement process?
Reinstatement is an application submitted to U.S. Citizenship and Immigration Services (USCIS) by a student who has violated their F-1 status to request return to legal student status. A reinstatement application costs $370 and can take approximately five months to be processed by USCIS.
What is the reinstatement basis of insurance?
Reinstatement is the repair or replacement of property so that it is in the same condition or a materially equivalent condition to that which it was in prior to the loss occurring. The wording of reinstatement clauses, however, varies from Policy to policy with very different Outcomes for the policyholder.
What is a reinstatement work?
What is reinstatement works? Reinstatement works are to revert or restore a space back to its original state. Reinstating is a common contractual requirement that a tenant has to fulfill at the end of the lease or rent. It applies generally across commercial, industrial and retail properties.
What is a reinstatement condition?
This means that if your home needs to be repaired or rebuilt, your insurance will only pay the reasonable costs to meet the reinstatement condition and will not cover the cost to improve or enhance your home.
What is a reinstatement amount?
Reinstatement involves making a single payment to catch up with everything due on a loan. By contrast, payoff involves paying the lender the total remaining balance of the loan. (Payoff before a foreclosure sale is commonly known as redemption, which is an equitable right available in every state.)