Within two years of a premium default, an individual life insurance policyowner in California applies to reinstate the lapsed policy. Which of the following is required for reinstatement under Section 10113.71(2)?

Question

Accepted Answer

Written application, evidence of insurability satisfactory to the insurer, and payment of amounts owed since the default

Answer

Only payment of the past-due premiums, with no evidence of insurability

Answer

A new application and a new medical exam in every case, with a new contestability period

Answer

Proof that the policyowner was never notified of the lapse

Within two years of a premium default, an individual life insurance policyowner in California applies to reinstate the lapsed policy. Which of the following is required for reinstatement under Section 10113.71(2)?

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