RCW 48.20.072
Standard provision No. 5 -- Reinstatement.
(Effective until July 1, 2009.)
There shall be a provision as
follows:
REINSTATEMENT: If any renewal premium be not paid within
the time granted the insured for payment, a subsequent acceptance
of premium by the insurer or by any agent duly authorized by the
insurer to accept such premium, without requiring in connection
therewith an application for reinstatement, shall reinstate the
policy: PROVIDED, HOWEVER, That if the insurer or such agent
requires an application for reinstatement and issues a
conditional receipt for the premium tendered, the policy will be
reinstated upon approval of such application by the insurer or,
lacking such approval, upon the forty-fifth day following the
date of such conditional receipt unless the insurer has
previously notified the insured in writing of its disapproval of
such application. The reinstated policy shall cover only loss
resulting from such accidental injury as may be sustained after
the date of reinstatement and loss due to such sickness as may
begin more than ten days after such 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. Any
premium accepted in connection with a reinstatement shall be
applied to a period for which premium has not been previously
paid, but not to any period more than sixty days prior to the
date of reinstatement.
(The last sentence of the above provision may be omitted
from any policy which 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.)
[1951 c 229 § 8; 1947 c 79 § .20.07; formerly Rem. Supp. 1947 §45.20.07 .]
RCW 48.20.072
Standard provision No. 5 -- Reinstatement.
(Effective July 1, 2009.)
There shall be a provision as follows:
REINSTATEMENT: If any renewal premium be not paid within
the time granted the insured for payment, a subsequent acceptance
of premium by the insurer or by any insurance producer duly
authorized by the insurer to accept such premium, without
requiring in connection therewith an application for
reinstatement, shall reinstate the policy: PROVIDED, HOWEVER,
That if the insurer or such insurance producer requires an
application for reinstatement and issues a conditional receipt
for the premium tendered, the policy will be reinstated upon
approval of such application by the insurer or, lacking such
approval, upon the forty-fifth day following the date of such
conditional receipt unless the insurer has previously notified
the insured in writing of its disapproval of such application.
The reinstated policy shall cover only loss resulting from such
accidental injury as may be sustained after the date of
reinstatement and loss due to such sickness as may begin more
than ten days after such 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. Any premium
accepted in connection with a reinstatement shall be applied to a
period for which premium has not been previously paid, but not to
any period more than sixty days prior to the date of
reinstatement.
(The last sentence of the above provision may be omitted
from any policy which 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.)
[2008 c 217 § 23; 1951 c 229 § 8; 1947 c 79 § .20.07; formerly Rem. Supp. 1947 § 45.20.07.]
NOTES:
Severability -- Effective date -- 2008 c 217: See notes following RCW 48.03.020.