<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
Reinstatement
Once the policy has lapsed the life office is off risk. There is a possibility that the policyholder may then contact the life office to ask that the policy be reinstated. The option to reinstate is totally up to the life office.
If the life office does agree to reinstate the policy they may require the policyholder to pay all premium arrears, settle any late premium charge and to sign a declaration of good health. That declaration would form part of the contract with the life office and be subject to the usual disclosure of material facts.
If a long period has passed the life office may not be willing to reinstate the policy and the policyholder may have to apply to the life office for a new policy and complete a new proposal form and pay a rate applicable to their current age.
Alterations
Sometimes the policyholder may request that an alteration be made to the policy. Policies runs for long periods of time and these requests do occur. The life office will often maintain a separate department to handle these requests. As the policy is a contract any alteration can only be achieved by mutual agreement.
The most common alteration requests are as follows,
- Increases in sum insured. This may or may not involve the request being underwritten. It depends on whether the policy allows for this option. This will often occur where the policy has been taken out to protect a mortgage which has then been increased.
- Decrease in sum insured. This does not require any underwriting considerations.
- Conversion of the policy into another policy type. This will usually follow a condition in the policy which allows conversation.
- Extension of the term. This may well involve underwriting and premium amendment.
- Reduction of the term. If this is for an endowment policy then the premium would need to be increased in order to maintain the same sum insured.
- Addition of a life insured. This will involve underwriting and may also require policy conversation from a single life policy to a joint life policy and the considerations that requires.
- Removal of a life insured.
- Fund switch on a unit linked policy.
- Change of premium frequency. For example monthly to annual. The premium may need to be adjusted.
The life office will require the policyholder’s written instructions to make the change and may require the agreement of any other party who has an interest in the policy. If the alteration is agreed the life office will issue an endorsement to the policy and mark up their records accordingly.
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Paid Up Policies