When considering life insurance policies, an application for reinstatement usually requires what?

The requirement for proof of insurability when applying for reinstatement of a life insurance policy is crucial. This process demonstrates that the individual seeking reinstatement still meets the underwriting standards, considering any changes in their health status since the original policy was issued. Insurers want to ascertain that the risk they are taking on has not increased, which could impact the premiums or the policy’s viability.

Reinstatement might include a waiting period since the policy lapsed, and in many cases, this also addresses any health changes the applicant may have experienced. Proof of insurability could involve completing a medical questionnaire or undergoing a medical examination, depending on the insurer's guidelines.

The other options, while they may seem relevant in certain contexts, are not typically required for reinstatement. Written consent from the beneficiary, for example, is more pertinent during the initial application process or when changing beneficiaries, but not for reinstatement. Similarly, a payment of the full death benefit doesn't apply, as the focus is on reinstating coverage rather than paying out the benefit. Lastly, a new application form is not generally necessary since the reinstatement process often relies on the original application and associated documents, contingent on the proof of insurability.