4 Reinstatement

Type	When To Do	Forms/Requirements	Remarks
4. Reinstatement	If premium in default is beyond the grace period and the policy has not acquired Cash Value, the policy is lapsed.	Health Declaration Form Satisfactory evidence of insurability Payment of all premiums in arrears plus interest	If premium is paid within 14 days after the grace period, no reinstatement is required. Lapsed policies may be reinstated within five (5) years and interest is charged at a rate of 8% per annum from date of premium in default.