Reinstatement Là Gì

     
Definition: If an insured person fails to pay the premium due khổng lồ various circumstances and 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 & cons of renewing the policy are considered. The insured person might have to lớn compensate for the failure to lớn pay the premium.Also See: Life Annuity, Paid-up policy


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