Effect to re-apply for life insurance contract to see the Terms and Conditions Insurance Tips

Category: Insurance tips Release Date: 2006-08-01

In the insurance process, many policyholders will be because of insufficient working capital for various reasons such as forgotten renewal, thereby breaking the insurance contract. This case, whether the original policy can continue to enjoy insurance protection? Insurance company told reporters that a professional, you can re-apply for insurance contracts to achieve the effect.

It is understood that life insurance contract refers to reinstate a contract of life insurance premiums paid by policyholders are not on schedule, resulting in insurance contracts expired after the lapse date from a certain period of time î•¿insurance policy is generally set out the time lapse î•?insured may apply to the insurer for recovery efficiency, examined and approved by the insurer, while the insured end of back premiums and interest during the period expired, the insurance contract can be brought back into force.

Reinstate the insured made an application must first be submitted to the insurance company reinstate the application. Then, the insurance companies that offer guaranteed-ming. In addition, the most important thing is to pay off non-payment of insurance premiums and interest and pay off the policy loan.

It is reported that if the second phase of the premium is not paid on schedule, according to "Insurance Law", insurance companies require complex effect on the insured has the following specific requirements: for a year, half-yearly, monthly delivery of insurance contracts, since the insurance premium paid charges the day following the expiration of a grace period of 60 days. During the grace period, insurance contracts continue to be valid, such as the occurrence of insured event, the insurer still has a responsibility to pay insurance premiums, but they should pay the insurance premiums, after deducting non-payment of premiums and interest. The delivery of premium after the end of the grace period, the insured, such as not paying insurance premiums, since the delivery of premium the day after the end of the grace period beginning at midnight to suspend the effectiveness of insurance contracts.

For the insured, the insurance for the complex effect of the insurance contract, the premiums of insurance is still the age old subject, at a lower premium to be the same protection, but also the responsibility of the original policy can continue to accumulate reserves. Otherwise, lift the insurance contract, not only to reclaim the responsibility of the surrender gold reserves than the policyholders low, there was an economic loss. Moreover, if more re-buy a similar policy, premiums must be recalculated according to a new age, it will increase the burden of insurance premiums. In contrast, of course, apply for re-selection effect to the policy holders benefit.

However, experts in particular prompted the insured, when applying for reinstate the contract when subject to the obligation of disclosure restrictions. In other words, if a breach of this obligation on everything from complex effects within two years from the date of the insurance company can cancel the contract accordingly. Therefore, we must pay special attention to efficiency in completing the re-application for this matter which should be insured the same as when you fill out insurance book.