Common use of REINSTATEMENT OF POLICY Clause in Contracts

REINSTATEMENT OF POLICY. If the Policy has lapsed due to non-payment of premium on the due date then, in accordance with Premium Condition 2, it can be reinstated within one month if premium payments are resumed. If the premium discontinuance has exceeded two months, the Policy having already lapsed, agreement will be required from the Company to reinstate the Policy and premium payments must be resumed in accordance with that agreement.

REINSTATEMENT OF POLICY. If the Policy has lapsed due to non-payment of premium on the due date then, in accordance with Premium Condition 2, it can be reinstated within one month if premium payments are resumed. If the premium discontinuance has exceeded two months, the Policy having already lapsed, agreement will be required from the Company to reinstate the Policy and premium payments must be resumed in accordance with that agreement.