Life insurance policies pay up to 10 to 20 years, the toll in a long period, some policy-holders may be due to various reasons unable to pay, leading to policy failure. The failure of these policies, it is necessary to apply for Reinstatement
The so-called Reinstatement, in the insurance contract is suspended two-year period, the policy holders and insurance companies to resume consultations and insurance contracts reached consensus agreement. If after two years have not apply to reinstate the insurance companies, the policy will be thoroughly "death", the insurance company will refund the situation in accordance with the terms of the insurance policy cash value to the policyholder.
But the insurance people reminded to be careful Reinstatement costs. First of all, because health insurance involves the observation period, health status and other issues, for rehabilitation effect may face additional charges, even Chuxian still may not claim, and so on. In addition, the insured must not only pay the unpaid premiums, the need to reinstate payment of interest. Reinstate the policy interest from the date of the corresponding payment, for each day calculation. Therefore, the best or the insured to pay premiums on time, so as not to cause losses to their own.
Case 1: The deterioration of health reinstate the fee increases
! Insurance five years ago a major illness insurance, the annual February 1 is the pay period. But early this year, the move! Busy new homes, will pay a thing forgotten in the back, and after the move did not promptly notify the insurance companies, insurance companies and have not received the payment notice sent. After more than two months, Mr. Lee inadvertently Fanchu policy, a look at long past the 60-day grace period for payment, then hastened to reinstate the application. But in re-office procedures at the same time, insurance companies have to!a medical examination. After medical examination, Mr. Lee received the insurance companies, "subject to insurance premium notices." In fact, Mr. Li was found to triglycerides, high blood pressure, to increase annual premiums of nearly 400 yuan.
Comments: for Reinstatement, if the insured person's health status or work situation changes, insurance companies will be re-approved rates and risk levels.
Case 2: The rehabilitation period of observation has validity
Miss Cheung three years ago, a life insurance policy holders, and attached a hospital medical insurance. The end of last year forgot to pay the renewal premiums lead to policy failure, until February this year only and would like to do the insurance companies to reinstate procedures. May this year, because of sudden acute cholecystitis Miss Zhang hospitalized for a week. Afterward, she claims to insurance companies but was rejected on the grounds that her 90-day hospitalization in the fashion of the observation period, not in the scope of claims.
Comments: complex effect only for long-term insurance, additional risk insurance are usually for one year during the short-term risk, and there is no validity complex issues. Therefore, Miss Zhang's hospital medical insurance is re-insured, the insured must re-calculate the time period of observation, observation period, disease, the insurance company is not responsible for compensation.
Case 3: reinstate renewal rejected
Mr Lau is a competent foreign enterprises last year, was sent to study abroad, which account for payment of the balance is less than, in November 2005 led to a life insurance policy holders and an additional guarantee for renewal of medical insurance lapse.
Not long ago, Mr. Liu returned from abroad after the insurance company to reinstate procedures for insurance companies after only agreed to review long-term life insurance reinstate the original guarantee renewal does not agree to continue medical insurance coverage. The reason is that in 2006 Mr Lau has been hospitalized twice because of the experience of lung disease. In response, Mr Lau difficult to accept, his first of the additional insurance, is taken guarantee the renewal of its functions, in order to obtain long-term protection, and now has been Jubao.
Comments: guarantee renewal function can only take effect in normal circumstances the policy implementation, that is, insurance companies must not be hospitalized because of illness policy holders refused to claim responsibility. But Mr Lau did not have time to pay additional risk failure, short-term risk-efficiency features not exist, only re-insurance, insurance companies, according to the physical condition of policy holders the right to decide whether or not insured.
The so-called Reinstatement, in the insurance contract is suspended two-year period, the policy holders and insurance companies to resume consultations and insurance contracts reached consensus agreement. If after two years have not apply to reinstate the insurance companies, the policy will be thoroughly "death", the insurance company will refund the situation in accordance with the terms of the insurance policy cash value to the policyholder.
But the insurance people reminded to be careful Reinstatement costs. First of all, because health insurance involves the observation period, health status and other issues, for rehabilitation effect may face additional charges, even Chuxian still may not claim, and so on. In addition, the insured must not only pay the unpaid premiums, the need to reinstate payment of interest. Reinstate the policy interest from the date of the corresponding payment, for each day calculation. Therefore, the best or the insured to pay premiums on time, so as not to cause losses to their own.
Case 1: The deterioration of health reinstate the fee increases
! Insurance five years ago a major illness insurance, the annual February 1 is the pay period. But early this year, the move! Busy new homes, will pay a thing forgotten in the back, and after the move did not promptly notify the insurance companies, insurance companies and have not received the payment notice sent. After more than two months, Mr. Lee inadvertently Fanchu policy, a look at long past the 60-day grace period for payment, then hastened to reinstate the application. But in re-office procedures at the same time, insurance companies have to!a medical examination. After medical examination, Mr. Lee received the insurance companies, "subject to insurance premium notices." In fact, Mr. Li was found to triglycerides, high blood pressure, to increase annual premiums of nearly 400 yuan.
Comments: for Reinstatement, if the insured person's health status or work situation changes, insurance companies will be re-approved rates and risk levels.
Case 2: The rehabilitation period of observation has validity
Miss Cheung three years ago, a life insurance policy holders, and attached a hospital medical insurance. The end of last year forgot to pay the renewal premiums lead to policy failure, until February this year only and would like to do the insurance companies to reinstate procedures. May this year, because of sudden acute cholecystitis Miss Zhang hospitalized for a week. Afterward, she claims to insurance companies but was rejected on the grounds that her 90-day hospitalization in the fashion of the observation period, not in the scope of claims.
Comments: complex effect only for long-term insurance, additional risk insurance are usually for one year during the short-term risk, and there is no validity complex issues. Therefore, Miss Zhang's hospital medical insurance is re-insured, the insured must re-calculate the time period of observation, observation period, disease, the insurance company is not responsible for compensation.
Case 3: reinstate renewal rejected
Mr Lau is a competent foreign enterprises last year, was sent to study abroad, which account for payment of the balance is less than, in November 2005 led to a life insurance policy holders and an additional guarantee for renewal of medical insurance lapse.
Not long ago, Mr. Liu returned from abroad after the insurance company to reinstate procedures for insurance companies after only agreed to review long-term life insurance reinstate the original guarantee renewal does not agree to continue medical insurance coverage. The reason is that in 2006 Mr Lau has been hospitalized twice because of the experience of lung disease. In response, Mr Lau difficult to accept, his first of the additional insurance, is taken guarantee the renewal of its functions, in order to obtain long-term protection, and now has been Jubao.
Comments: guarantee renewal function can only take effect in normal circumstances the policy implementation, that is, insurance companies must not be hospitalized because of illness policy holders refused to claim responsibility. But Mr Lau did not have time to pay additional risk failure, short-term risk-efficiency features not exist, only re-insurance, insurance companies, according to the physical condition of policy holders the right to decide whether or not insured.