Life insurance contractof long period is suspended because the insured do notpay the back premi-umswhich are due after the graceperiod. The insurerhasno liability for the beneficiarieswithin the suspension pe-riod. In order to protect the interests of the insured and the beneficiary, aswell as the interests of the insurer, the insurance law provides the grace period clause and the reinstatementclause to relieve the insured based on consid-eration of the special contrac.t This paper gives specific explanation about the law provision, the causes and the terms of the two clauses.
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