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Romanian to English translations [PRO]
Bus/Financial - Insurance / asigurari | | Romanian term or phrase: readucere in vigoare | Readucere in vigoare = procesul prin care un contract anulat/reziliat este reluat prin plata primelor conform conditiilor contractuale initiale.
In luna in care se readuce in vigoare un contract, suma retinuta ca fond de rezerva se returneaza intermediarul odata cu plata comisionului daca intermediarul este activ.In cazul in care intermediarul nu este activ suma retinuta nu se returneaza.
Daca readucerea in vigoare este realizata de un alt intermediar decat cel initial si contractual este in anul I, intermediarul nu primeste commision. Primeste comision de reinnoire incepand cu anul II conform schemei de comisionare. |
| | | reinstatement | Explanation:
Reinstate
To renew insurance coverage after a lapse. For example, if premiums are not paid in a timely fashion and a policy lapses, it may be reinstated within a specific period of time if the policy holder remains insurable. The option to reinstate coverage must be weighed against the potential advantages and disadvantages associated with a new policy. These might include changes in premium costs and the resetting of provisions for contestability and suicide.
http://www.investorwords.com/4153/reinstate.html
Reinstatement Provision
A provision that describes the conditions a policy owner must meet in order for an insurer to reinstate a policy within a specified time after lapse.
http://www.metaglossary.com/meanings/494844/
Common Life Insurance Provisions
"to reinstate the policy, the policyholder must provide evidence of insurability; ...
http://thismatter.com/money/insurance/types/life/contract/co... |
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