How long can it be resumed after the policy expires? What should I pay attention to?

The policy usually has a 60-day grace period for payment. After the grace period of payment, the policy will enter a two-year reinstatement period. In these two years, the insured can apply to the insurance company for reinstatement. If the application for reinstatement is passed and the insured pays the unpaid premium and interest, the insurance will be reinstated.

Matters needing attention in policy reinstatement

1. When applying for policy reinstatement, the insured needs to have a new physical examination. The insurance company will re-approve the risk level according to the health status of the insured. If the examination fails, the insured will not be able to apply for the reinstatement of the policy.

2. There is an observation period for the policy to be reinstated, during which the insurance company will not bear the insurance liability.

3. When the applicant applies for the reinstatement of the policy, he needs to pay off the premium and interest in arrears in one lump sum.

4. Policy reinstatement needs to be handled within 2 years after the expiration of the policy, and will not be handled after 2 years.

Tips: The above contents are for reference only, subject to the relevant regulations of your insurance company.

Reply time: 2022-0 1- 10. Please refer to the latest business changes announced by Ping An Bank in official website.