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What is the difference between life insurance reinstatement and revival?

In: Insurance, Life Insurance [Edit categories]

Answer:

Answer

As per my knowledge both Reinstatement & Revival are two different terms for the same thing , definition of which is following :--

The process by which an insurer puts back into force a life insurance policy that has been terminated for non-payment of premiums or a life insurance policy that has been continued as an extended term or reduced paid-up insurance.

First answer by ID0000000000. Last edit by ID0000000000. Question popularity: 252 [recommend question].

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