New York State Life Insurance Exam Questions Practice Question
In order to reinstate an individual life insurance policy, the policyowner MUST do all of the following EXCEPT
Correct Answer: D
Rationale: Reinstating an individual life insurance policy typically requires specific actions to ensure the policyholder meets the insurer's criteria. Completing a reinstatement application (A) and providing evidence of insurability (B) are essential steps, as they allow the insurer to assess the policyholder's current health status and intentions. Paying all overdue premiums with interest (C) is also mandatory to cover any lapses in coverage. However, signing a statement saying the policy will not lapse again (D) is not a requirement; it is more of a commitment than a formal condition for reinstatement.
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