Sec. 21.51.070. Reinstatement.

318 words·~1 min read·/ak/title-21/chapter-51/21-51-070

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except for a policy offered or renewed in this state on a health care exchange and subject to federal regulations on reinstatement, there shall be a provision as follows:

“Reinstatement: If

(1)a renewal premium is not paid within the time granted the insured for payment,

(2)a subsequent acceptance of premium by the insurer or by an agent authorized by the insurer to accept the premium occurs, without requiring in connection therewith an application for reinstatement, and

(3)the insurer issues a conditional receipt for the premium tendered, the policy will be reinstated upon approval of the application by the insurer or, lacking approval, upon the 45th day following the date of the conditional receipt unless the insurer has previously notified the insured in writing of its disapproval of the application. The reinstated policy shall cover only loss resulting from the accidental injury that may be sustained after the date of reinstatement and loss due to the sickness that may begin more than 10 days after that date. In all other respects, the insured and insurer shall have the same rights thereunder as they had under the policy immediately before the due date of the defaulted premium, subject to any provisions endorsed hereon or attached hereto in connection with the reinstatement. A premium accepted in connection with a reinstatement shall be applied to a period for which premium has not been previously paid, but not to a period more than 60 days before the date of reinstatement.”

(b)The last sentence of the provision in

(a)of this section may be omitted from a policy that the insured has the right to continue in force subject to its terms by the timely payment of premiums

(1)until at least age 50; or

(2)in the case of a policy issued after age 44, for at least five years from its date of issue.