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Reinstate a lapsed policy

A policy reinstatement allows the policyholder to bring a lapsed policy back to the in-force status so that the life assured can remain covered. Reinstatements are subject to the terms of the policy.

  • 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 30 days after the premium due date.
  • If the policy has acquired cash value, an Automatic Premium Loan (APL) will be set up after a 30-day grace period. This is provided for in the policy terms and conditions. APL will continue to pay for the premiums for as long as there is cash value. When the outstanding indebtedness (i.e. APL and APL interest) exceeds the cash value, the policy will lapse.
  • 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 lapse.

The reinstatement period depends on the type of policy.

  • For Regular premium policies, reinstatement is within three years from the lapsed date.
  • For Term policies, reinstatement is within six months from the lapsed date.
  • For Single premium policies, reinstatement is within six months from the lapsed date.

You need to fill up a Reinstatement Form. Policy reinstatement is subject to satisfactory health underwriting and payment of premiums and interest outstanding from the date of lapse to reinstatement.

Additional form(s) is/are required if:

  • your policy has lapsed for more than six months and/or your application for assurance was accepted at other than normal terms. Please attach the Declaration of Health form.
  • your policy is a Paysecure/PayAssure policy or has a Paysecure/PayAssure rider. Please attach the Supplementary form for Paysecure/PayAssure.
  • your policy is a Lifesecure policy or has a Lifesecure rider. Please attach the Supplementary form for Lifesecure.