The policy acquires Paid Up Value if premiums are paid for a minimum of three policy years and no further due premiums are paid. It will then be eligible for a Reduced Paid Up Value. The policyholder can reinstate a lapsed policy by submitting a written request within two years from the date of the first unpaid premium. Reinstatement is subject to sufficient evidence being provided of insurability to the company. Furthermore, the policyholder has to pay all due premiums and interest accrued up to the date of reinstatement.
