Reinstatement


Reinstatement
1. The process of re-establishing the status of a person, company or law.

2. In regards to insurance, reinstatement allows a previously terminated policy to resume active coverage. Depending on the circumstance of the termination, such as failure to pay the premium, the insured person may be required to compensate the insurer before reinstatement occurs.

1. For example, the government may reinstate prohibition, making it illegal to consume or exchange alcohol.

2. Reinstating the policy would provide the insured with all the benefits of their original plan. In case of non-payment, the insured may be required to provide evidence of eligibility, such as taking a medical examination for life insurance. Additionally, the person might have to pay the insurance company for the missed premium dates.


Investment dictionary. . 2012.

Synonyms:

Look at other dictionaries:

  • reinstatement — index continuation (resumption), rehabilitation, renewal, replacement, restitution Burton s Legal Thesaurus. William C. Burton …   Law dictionary

  • Reinstatement — Re in*state ment ( ment), n. The act of reinstating; the state of being reinstated; re?stablishment. [1913 Webster] …   The Collaborative International Dictionary of English

  • reinstatement — 1797, from REINSTATE (Cf. reinstate) + MENT (Cf. ment) …   Etymology dictionary

  • reinstatement — The restoration of an insurance policy after it has lapsed for nonpayment of premiums. Bloomberg Financial Dictionary * * * reinstate re‧in‧state [ˌriːɪnˈsteɪt] verb [transitive] 1. to put someone back into a job or position of authority from… …   Financial and business terms

  • reinstatement — [[t]ri͟ːɪnste͟ɪtmənt[/t]] 1) N UNCOUNT: usu with poss Reinstatement is the act of giving someone back a job or position which has been taken away from them. Parents campaigned in vain for her reinstatement. 2) N UNCOUNT: usu with poss The… …   English dictionary

  • reinstatement — noun 1. the condition of being reinstated her reinstatement to her former office followed quickly • Derivationally related forms: ↑reinstate • Hypernyms: ↑condition, ↑status 2. the act of restoring someone to a previous position we insisted on th …   Useful english dictionary

  • reinstatement — noun The act of restoring something to its previous state. Many people are unhappy with the sacking of the chief constable and demand his immediate reinstatement …   Wiktionary

  • reinstatement — reinstate ► VERB ▪ restore to a former position or state. DERIVATIVES reinstatement noun …   English terms dictionary

  • reinstatement — noun see reinstate …   New Collegiate Dictionary

  • reinstatement — See reinstate. * * * …   Universalium


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