Which provision allows Brent's life insurance policy to continue when he pays his premium after a lapse?

The reinstatement provision is critical for policyholders like Brent who may experience a lapse in their life insurance coverage due to non-payment of premiums. This provision allows the policyholder to reinstate their policy after it has lapsed, typically by paying any overdue premiums along with interest and providing evidence of insurability if required. The reinstatement period usually has a specific time frame, often within three to five years after the lapse, allowing Brent to resume his coverage without needing to start a new policy.

While the grace period provision provides a specific timeframe during which a policyholder can pay their premium after the due date without losing coverage, it does not apply once the policy has lapsed; instead, it serves to prevent a lapse in coverage. The automatic reinstatement option usually involves a policy that automatically reinstates if premium payments are made within a specified time but is less common. The extended coverage provision typically applies to certain types of policies, such as those that allow for continued coverage for a limited time under different conditions after a lapse, but it is not the one that directly addresses the reinstatement of a lapsed policy.

Overall, the reinstatement provision is essential for enabling a policyholder to recover their life insurance policy following missed premium payments.