- reinstatement of policy
- The revival of a policy of insurance after it has lapsed or become forfeited, especially a forfeiture for the nonpayment of premiums, pursuant to a provision for revival contained in the policy and the performance of such conditions as are imposed by such provision, or pursuant to the agreement of the parties. 29 Am J Rev ed Ins § 368. There is a difference of opinion whether the reinstatement of an insurance policy constitutes a new contract. 29 Am J Rev ed his § 369.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
reinstatement — The restoration of an insurance policy after it has lapsed for nonpayment of premiums. Bloomberg Financial Dictionary * * * reinstate re‧in‧state [ˌriːɪnˈsteɪt] verb [transitive] 1. to put someone back into a job or position of authority from… … Financial and business terms
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