L&HMAmedium
Under Massachusetts mandatory life provisions c. 175 §132, what must a policyowner generally do to reinstate a lapsed life policy?
AOnly pay the next scheduled premium going forward
BWait one full year after lapse, then automatically reinstate
CFile a new application with DOI before paying any premium
Show insurability and pay back premiums with interest
Why this is the answer
M.G.L. c. 175 §132 requires every MA life policy to include a reinstatement provision. The owner must apply within three years of default, furnish satisfactory evidence of insurability, and pay all overdue premiums plus interest and repay any policy loan balance.
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