Which two actions are typically required for policy reinstatement?

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

Which two actions are typically required for policy reinstatement?

Explanation:
When a policy lapses, reinstatement means bringing it back to active status, and it usually requires two things: evidence of insurability to confirm that you still qualify for coverage, and payment of all past-due premiums (often with interest). This combination shows you’re still a suitable risk and that the premium history is current, which is necessary for the insurer to restore the contract. Other options, like naming new beneficiaries, filing a claim, canceling and reapplying, or changing the policy type or premium, aren’t part of reinstating a lapsed policy.

When a policy lapses, reinstatement means bringing it back to active status, and it usually requires two things: evidence of insurability to confirm that you still qualify for coverage, and payment of all past-due premiums (often with interest). This combination shows you’re still a suitable risk and that the premium history is current, which is necessary for the insurer to restore the contract. Other options, like naming new beneficiaries, filing a claim, canceling and reapplying, or changing the policy type or premium, aren’t part of reinstating a lapsed policy.

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