Right to reinstate a policy within a reasonable time, after lapsing, with satisfactory evidence of insurability.
The process by which an insurer puts back into force an insurance policy that has either been terminated for nonpayment of premiums or continued as extended term or reduced paid-up coverage.
Occurs when a borrower cures a mortgage default. A mortgage is reinstated if it is brought up to date by paying all charges that had become overdue.
The process of restoring a lapsed policy by the payment of an overdue premium.
a curing of a default and restoration of the loan to current status through payment of past-due amounts together with the fee and expenses of the trustee.
Policyowners' rights, by the terms of most life insurance policies, to reinstate lapsed policies within a reasonable time after lapse, provided they present satisfactory evidence of insurability and pay back premiums and interest. The right is usually denied if a policy has been surrendered for its cash value.
Restoring to the status occupied before a forfeiture.
The period after the grace period (usually five years) during which the policy can be restored from a lapsed status through submission of acceptable evidence of insurability and unpaid premiums plus interest. Some companies allow reinstatement without evidence of insurability during the 31 days following the grace period if the insured is alive.
( reconstitution automatique de la garantie) The reinstatement of a policy is to bring it back up to the same amount and force as it was prior to the loss. Some forms of policies carry "automatic reinstatement" by which the principal sum stated on the face of the policy is reinstated automatically after a loss for which there may or may not be an additional premium. Repairing or replacing property lost or damaged instead of making a cash payment.
Method of backfilling, compaction and re-surfacing of any excavation in order to restore the surface and underlying structure to enable it to perform its original function.
A provision in EXCESS OF LOSS REINSURANCE, CATASTROPHE REINSURANCE or CLASH COVER that provides for reinstatement of a limit which is reduced by the occurrence of a loss or losses. The number of times that the limit can be reinstated varies, as does the cost of the reinstatement.
Putting a lapsed certificate back in force. Generally, reinstatement requires evidence of insurability and payment of back premiums (plus interest).
Placing a lapsed policy back in force.
The restoration of the full policy limit after loss.
A process for making a coverage applicable again after it has been canceled or suspended, but before the original normal expiration date of the policy in question.
to restore to a previous legal standing within a judicial proceeding.
Restoration of a policy that has lapsed because of non-payment of premium after the grace period has expired.
With most policies, the policyholder has the right to reinstate a lapsed policy within a specified period (usually 2 years) by providing satisfactory evidence of insurability and paying all outstanding premiums, plus interest.
the act of restoring someone to a previous position; "we insisted on the reinstatement of the colonel"
The restoration of an employee who has resigned in good standing, or who has been ordered reinstated by the board or a court to a position in his/her former class, or to a position of like status and pay. [See [ KRS 18A.005 (27)]. (PDF - 12.3 KB)
The process of putting a lapsed policy back into force. Evidence of insurability and paying of any overdue premiums are generally required.
When the reinsurance limit (amount of cover) provided under an excess of loss contract is reduced by the payment of loss, the reinsurance cover is automatically reinstated to the level existing prior to the occurrence of that loss. Sometimes a reinstatement is subject to the payment of a specified reinstatement premium. The number of reinstatements (unlimited or specific number) to be allowed is usually negotiated when the contract is placed (automatic reinstatements). The annual amount available for reinstatements under a treaty is limited by the Maximum Aggregate Amount. Reinstatements are normally subject to additional premium charged at a percentage of the treaty premium.
The reactivation of a policy that has cancelled or lapsed.
The process whereby the insured must go through the underwriting process to place the policy back in force after the policy has lapsed.
To restore the policy after the insurance policy has lapsed.
Restoring a patent to protection after it has apparently lapsed by error or been revoked.
The process by which the insurance company puts back into force a policy that has been terminated for nonpayment of premiums or a life policy that has been continued as extended term or reduced paid-up insurance.
If a policy has lapsed due to nonpayment of premiums after the grace period has expired, it may be reinstated. To reinstate a policy, the insurance company typically requires the insured to show evidence of continued insurability (take a medical exam, for example), to pay all past premiums plus interest due, and to reinstate or repay any outstanding loans.
The process of re-activating a life or disability insurance policy that was previously terminated due to non-payment of premiums. Reinstatement of a policy may be subject to certain stipulations.
The curing of a default under a trust deed or mortgage by paying up the amount past due. Reinstatement restores the loan to the status it had before the default.
To reinstate a loan is to take one that is past due and restore it to current status through payment of past-due amounts together with the fee and expenses of the trustee.
To restore to a former state, authority, or status from which one has been removed.
The payment by a borrower of all past due, or delinquent, payments, thus restoring the loan to current status.... read full article
Placing a policy back in force that was previously discontinued due to lack of premium payment(s) after the grace period has expired.
The restoration of a lapsed life or health insurance policy to its original premium-paying status - usually after evidence of good health has been submitted and past-due premiums have been paid.
Restoring a policy after it has been cancelled.
(1) Payment of a note, mortgage, deed of trust, etc. to bring it from default to good standing. (2) Restoring the previously used entitlement of a veteran to enable the veteran to purchase real property under the VA program.
The act of putting a lapsed policy back in force.
By the terms of most life insurance policies, the policyowner has the right to reinstate a lapsed policy within a reasonable time after lapse by furnishing satisfactory evidence of insurability. The right is usually denied if the policy has been surrendered for its cash value.
Putting a lapsed policy back in force by producing satisfactory evidence of insurability and paying any past-due premiums required.
The period after the grace period during which the policy can be restored from a lapsed status through submission of acceptable evidence of insurability and unpaid premiums plus interest. The policy must not have been surrendered for its cash value.
Returning a lapsed policy to its full value after its termination as if it was never terminated.
Resumption of coverage under a policy that had lapsed.
The process of putting a policy in force after it has lapsed by bringing the premium payments current.
Cure of a default by a borrower and restoration of the loan to current status through payment of past-due amounts.
Restoration of a lapsed life insurance policy. The life insurance company will require evidence of continuing good health and the payment of all past due premiums plus interest.
To reactivate a cancelled or lapsed policy.
In which a lapsed policy can be restored with evidence of insurability and paying past-due premiums required.
1)Restoration of the amount of insurance depleted from a policy by payment of loss. Most fire policies contain an automatic reinstatement clause. 2)Reinstituting or putting coverage back into effect under a policy in which coverage has been suspended or canceled for a part of the policy term.
The resumption of coverage under a policy that has lapsed.
The process by which a life insurance company puts back in force a policy that had lapsed because of nonpayment of renewal premiums.
An applicant's request that a license be restored after termination, cancellation, or expiration. Under ULS, reinstatement is no longer an available procedure. However, the licensee does have the right to file a petition for reconsideration of a Commission action terminating its license.
The curing of all defaults by a Borrower, i.e., the restoration of a loan to current status through payment of arrearages.
To bring something back to its prior position, as in restoring a defaulted loan to current status.
The curing of all defaults by a borrower; the restoration of a loan to current status through payment of arrears (money owed or over-due).
The restoration of a lapsed insurance policy. The company requires evidence of insurability and payment of past-due premiums plus interest.
the process by which an insurer puts back in force a policy that lapsed because of nonpayment of renewal premiums.
The restoring of a lapsed policy to full force and effect. The reinstatement may be effective after the cancellation date, creating a lapse of coverage. Some companies require evidence of insurability and payment of past due premiums plus interest.
The process by which a life insurance company puts back in force a policy that has lapsed or has been canceled for nonpayment of premium.
is the process of putting a lapsed policy back into effect. The company may ask for new or updated medical information.
If a long-term care insurance policy lapses as a result of the insured person's cognitive impairment, it can usually be reinstated in most states retroactive to the date of lapse as though no lapse occurred, with no application required for reinstatement. The request for reinstatement must be made to the insurance company within six months following the date of lapse; the insurance company's requirements for cognitive impairment must be met; and all past due premiums must be paid.
Making good. Where insured property is damaged, a policy may give the insurer the option to make it good rather than pay the loss in money, See also Fires Prevention (Metropolis) Act 1774 / The revival of an insurance or reinsurance by paying a premium to make good cover that has been depleted by payment of a loss.
Payment of a note, mortgage, deed of trust, etc., to bring it from default to good standing. Reinsurance The transferring of a portion of the liability to other insurers. Example: Insurer A insures for $200,000, A insures for $100,000 and reinsures the "second" $100,000 through B insurer.
(1) Putting a lapsed policy back in force; (2) The payment of a claim under some forms of insurance reduces the principal amount of the policy by the amount of the claim. Provision is usually made for a method of reinstating the policy to its original amount. (3) Payment of claims on a new for old basis.
Restoring a life insurance policy that was previously lapsed.
Restoration of the enforceability of a patent.
Putting a lapsed policy back into force. Producing evidence of insurability and paying any overdue premiums are usually necessary.
The procedures when a group's policy is terminated (either at their request or for non-payment of premium) and the stop loss coverage is reinstated retroactive to the termination date.
the making good of damaged property; the restoration of the sum insured after settlement of a loss on payment of an additional premium.
When an insurance policy is put back into force. How and when a policy may be reinstated is explained in your insurance contract.
The reactivation of suspended or cancelled insurance. Restoration of full amount of insurance or re insurance after a claim has been paid, with or without the payment of additional premium.
The act of restoring a lapsed life insurance policy to its original status. Normally, reinstatement involves payment of back premiums with interest, payment of all policy loans and providing evidence of insurability within a specified time.
The resumption of coverage under a insurance policy which lapsed.
(1) restoration of a policy that has lapsed or been cancelled for non-payment of premium; (2) the payment of a claim under many forms of insurance reduces the principal amount of the policy by the amount of the claim. Provision is usually made for a method of reinstating the policy to its original amount. This may be done automatically either with or without premium consideration or at the request of the insured.
The resumption of coverage under a policy which has lapsed.
The restoring of a lapsed or surrendered policy to full force and effect. The company requires evidence of insurability, and payment of all amounts necessary, including interest, to put the policy into the condition it would have been in had the lapse or surrender not occurred. The company is not obligated to reinstate a policy.