Which of the following is typically not a requirement for reinstating a lapsed life insurance policy?

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Typically, the reinstatement of a lapsed life insurance policy requires several criteria to ensure that the insured remains eligible for coverage. Providing evidence of insurability is often mandated because the insurer needs to assess the risk associated with the policyholder. This step is crucial, especially if a significant amount of time has passed since the policy lapsed, as the health status of the policyholder may have changed.

Payment of all overdue premiums is also generally required to bring the policy back up to date and restore coverage. The insurer wants to ensure that all financial obligations associated with the policy are satisfied.

Additionally, payment of interest on overdue premiums might be required as it compensates the insurance company for the time value of the unpaid funds.

In contrast, completion of a new application form is not usually a requirement for reinstating a lapsed policy. Reinstatement typically leverages the existing application and terms of the original policy, as the insured is reinstating coverage rather than starting a new policy. Thus, while some companies might request additional forms or information, it is not a standard or necessary requirement for reinstatement.

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