Business, Legal & Accounting Glossary
A payment made by an insured party to reinstate a life insurance policy after it has lapsed. When coverage is discontinued for nonpayment of premium, the insured may be responsible for the missing premiums. Policy continuation may only be offered for a limited time and only following the payment of the reinstatement premium.
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This glossary post was last updated: 16th November, 2021 | 0 Views.