Mr Harvey Needs Life Insurance

Mr. Harvey needs life insurance. He is deciding whether to buy a new policy or to reinstate the one that he allowed to lapse last year. He asks you to explain the advantage of reinstatement versus purchasing a new policy, and you tell him:

A) settlement options in a new policy may be less favorable than those in the old policy
B) he will not have to present evidence of insurability
C) he will not have to pay premiums that are in arrears
D) the reinstated policy will not have an incontestability clause