Which of the following is a reinstatement condition? a) proof of insurability

Which of the following is a reinstatement condition?

a) proof of insurability

b) changes in the insuring clause

c) premium increase

d) premium decrease

Answer. a) proof of insurability

A policy reinstatement condition means that certain conditions must be fulfilled to get insurance coverage back after it was terminated or did not pay a premium for some time or for some other reasons. Another example of reinstatement condition is providing insurability evidence, which shall mean that a policyholder should inform their insurance company the current state of their health and risk factors. This data then allows the company to re-evaluate its subject and decide whether or not to gain back the client with certain terms imposed. That the insurer gets to know the policyholder’s potential change in the established insurability risk profile from the time when the policy was actually issued is made easier by proof of insurability.