for Agents
Grace Period
Grace Period
Late Offer
Reinstatement Period
LGA
31 days, 60 days California
30 days
5 yrs from the lapse date
Ameritas
31 days, 60 days California
30 days, n/a California
5 yrs from the lapse date
Senior Life
31 days
–
5 yrs from the lapse date
What is a Grace Period? A client’s policy enters a grace period after a missed payment. We send out this email when the client enters grace period
How can my client pay during their Grace Period? Your client can make a payment through the Customer Portal Ç Once logged in, click on ‘Payment’ from the menu on the lefá Ç The client can either retry their payment method on file or update their payment methoÄ Ethos’ CX team cannot take payments via chat, email, or phone. (ethoslife.com/loginã
What are the types of Reinstatements? Ç Late Offer Reinstatement: When a policy is in late o ff er the insured is not covered ; however, they can pay their missed premiums in order to reinstate without the need to complete a reinstatement application. + Ç True Reinstatement: When a policy has lapsed after 61 days of no payment ( 31 days for S enior L ife Policies ) . A reinstatement application is re q uired and a repayment of all missed premiums in the event of underwriting approval. How can my client reinstate their policy? Ç Late Offer: While a policy is in a late o ff er, the policy is terminated b ut the client can log into their Customer Portal to retry their payment or update their payment method. All past - due invoices must b e charged in order to reinstate coverage i Ç Lapsed: Once a policy is in a lapsed status an application is re q uired. Your client will need to reach out to Ethos’ CX team ( support @ getethos.com ) . They will send a D ocu S ign reinstatement application for the client to complete. Once the client completes the application it will b e sent to an underwriter to review. Policy S ervicing will provide updates to the client along the way.
How long after the policy has lapsed can the policy b e reinstated? Ç 5 years from the lapse date for LG A and Ameritas and 3 years for S enior life.
D oes this apply to my clients who ha v e a T ruStage policy? TM Ç N o, your client will need to reach out to Tru S tage directly regarding missed payments, grace periods, or reinstatements. Your client can call 888-787-824 3 or access their account via trustage.com/myaccount. TM
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