Which of the following is NOT correct regarding the reinstatement process?

The reinstatement process for a life insurance policy typically involves several key components that enable the policyholder to bring a lapsed policy back into effect. Among these, an application for reinstatement is usually required, along with the payment of back premiums and any applicable interest. Moreover, the policyholder is expected to assume any existing indebtedness related to the policy, ensuring that any loans taken against the policy are accounted for.

The option regarding written assurance of intent to keep the policy in force does not accurately reflect a standard requirement in the reinstatement process. While it is important for a policyholder to intend to maintain coverage going forward, there is no formal requirement for written assurance of this intent. The critical steps revolve around practical financial actions and the completion of the reinstatement application itself.

Thus, the correct choice reflects an aspect that is not a formal necessity in the reinstatement process, focusing instead on what tangible actions are typically mandated to reinstate a lapsed policy.