Term
| w/ the reinstatement provision, the policy must not have been surrendered for its |
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Definition
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Term
| the policy must be reinstated w/in |
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Definition
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Term
| the premium is lower b/c the reinstated policy was issued at an earlier age |
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Definition
| advtg of a reinstated policy over a new policy |
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Term
| the acquisition expenses incurred in issuing a new policy must be paid again |
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Definition
| advtg of reinstated policy |
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Term
| reinstated policies are advantageous over new policies b/c cash value and dividends are ususally |
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Definition
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Term
| reinstatement does not reopen the |
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Definition
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Term
| w/ reinstatement of a lapsed policy, the new incontestable period generally applies on to statements contained in the application for |
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Definition
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Term
| substantial cash outlay is required if the policy lapsed sever years earlier |
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Definition
| disadvtg of reinstatement of a lapsed policy |
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Term
| most lapsed policies are not reinstated b/c of the required |
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Definition
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Term
| under this clause, if the insured's age or sex is misstated, the amt payable is the amt that the premiums paid would have purchased at the correct age and sex |
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Definition
| misstatement of age or sex clause |
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