Florida 2-14 Life and Annuity Practice Test

When a life policy lapses, reinstatement is about bringing the policy back to active status within the allowed period and under the right conditions. The key requirement is to pay the overdue premiums plus interest to bring the policy current. At the same time, you must provide evidence of insurability to verify that you still qualify for coverage, since health conditions can change over time. Some policies also require repayment of any policy loans or other amounts owed. There’s usually a time limit on how long reinstatement is available, set by the policy.

That combination—settling the back premiums with interest and proving insurability—is what restores the policy. Merely paying overdue premiums (without evidence of insurability) or claiming reinstatement isn’t possible, and requiring evidence of insurability without paying back overdue amounts would not meet the typical reinstatement conditions.