Which of the following best describes the two major actions required for policy reinstatement after lapse?

• A. Cancel policy, reapply
• B. Provide evidence of insurability, pay past due premiums
• C. Add new beneficiaries, decrease coverage
• D. File a claim, provide proof of loss

Answer: (B)

Reinstating a lapsed policy hinges on two actions: bringing the policy current by paying the past-due premiums (often with interest) and providing evidence of insurability to re-establish underwriting. The insurer wants to confirm you still qualify for coverage and hasn’t developed a health condition that would change the risk since the policy was issued. Evidence of insurability usually means a medical exam or updated health information. There may also be a requirement to address any outstanding policy loans or back charges, and reinstatement must be requested within a defined time window. Other options involve actions unrelated to restoring coverage, like canceling, changing beneficiaries, or filing a claim.