Multiple choice

Revival of a life insurance policy means

  1. forcing a policy to lapse

  2. reinstating a lapsed policy

  3. not paying the premiums

  4. non-settlement of claim monies
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Reinstatement or revival is the process by which a life insurance company puts back into force a policy that has either been terminated because of non-payment of premiums or has been continued under one of the non-forfeiture provisions.

Keep practicing — related questions