State RegulationsOH specificDifficulty 1/5
After a premium default, within what period may an Ohio individual life policy be reinstated, and on what conditions?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
ORC 3915.05(J) permits reinstatement within 3 years from the default, provided the applied-for nonforfeiture insurance is in force, the original policy was not surrendered, the insured furnishes evidence of insurability satisfactory to the company, and all arrears of premium are paid with interest. Ohio is specific on both elements: the 3-year window and the underwriting requirement — paying the back premiums alone is not enough.
Why the other options are wrong
- A) The window is 3 years, not 2, and ORC 3915.05(J) demands evidence of insurability in addition to the arrears.
- C) Five years overstates the window; ORC 3915.05(J) allows reinstatement within 3 years from default and also requires insurability evidence.
- D) There is no unlimited reinstatement right; ORC 3915.05(J) closes the door after 3 years and conditions reinstatement on insurability and arrears with interest.
Memory hook
3 years, prove you're insurable, pay arrears plus interest.