Reinstatement
1. In what circumstances would a policy lapse?
		Premium not paid within grace period When the premium is not paid for the policy, and the policy has not acquired any cash value, the policy will lapse after the expiry of a 30 days grace period from the premium due date.
		APL outstanding exceeds cash value If the policy has acquired cash value, an Automatic Premium Loan (APL) will be set up after expiry of the 30 days grace period. This is provided for in the policy terms and conditions. APL will continue to be set up to pay for the premiums for as long as the cash value can sustain. When the outstanding indebtedness (i.e. APL and APL interest) exceeds the cash value, the policy will become lapsed.
		Loan outstanding exceeds cash value Taking policy loans against the policy and not making loan repayments may also cause the policy to lapse, despite regular premium payment. When the outstanding indebtedness (i.e. policy loan and loan interest) exceeds the cash value, the policy will also become lapsed.

2. What is Reinstatement?
Reinstatement is provided for in the policy terms and conditions. It allows the policyholder to continue with the policy, subject to certain terms after the policy has lapsed.

3. How long from lapsed date can I still reinstate my policy?
	The reinstatement period differs depending on the type of policies.
		For Regular premium policies, reinstatement is within 3 years from lapsed date
		For Term policies, reinstatement is within 6 months from lapsed date
		For Single premium policies, reinstatement is within 6 months from lapsed date

4. What are the requirements for restating my policy?
You need to fill up a Reinstatement Form . Evidence of assurability is required. In other words, you will be subject to underwriting and a medical report may be required if you have a medical condition.

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