What is typically required to reactivate a lapsed insurance policy?

To reactivate a lapsed insurance policy, payment of outstanding premiums is typically required. This process acknowledges the initial agreement made between the insurer and the insured, which includes the obligation to pay premiums to keep the policy active. When a policy lapses due to non-payment, the insurer has generally not terminated the contract entirely; instead, they set a time frame during which the policyholder may reinstate the policy by settling any overdue premiums.

While a new application for insurance is not required, as the policyholder is essentially looking to reinstate an existing policy rather than starting a new one, the payment of outstanding premiums is what reinstates the validity of the policy. Similarly, a full underwriting process is usually not necessary if the lapse has not been extensive and the policyholder meets certain predefined criteria for reinstatement. Lastly, submission of claim forms is unrelated to reinstating a policy; this step pertains to filing for benefits under an active policy. Therefore, the correct response centers around the requirement of resolving any unpaid premiums to reactivate the latched insurance policy.