Which of the following is NOT a benefit of reinstating a policy instead of taking a new one?

Reinstating a policy rather than taking out a new one offers several advantages. One key benefit is maintaining specific age-related premiums. When a policy is reinstated, the insured retains the premium rates calculated based on their age at the time the policy was first issued. If a new policy is taken out, the premium will likely be based on the insured's current age, which is typically higher as one ages.

Another advantage of reinstating a policy is avoiding a new waiting period. Many insurance policies, especially health-related ones, come with waiting periods for certain benefits. By reinstating an existing policy, the insured can bypass these periods, thus enjoying immediate coverage for previously included benefits.

Additionally, keeping the same coverage amount from before is beneficial. Reinstatement allows the insured to retain the original coverage limits and conditions they had previously, which may not be guaranteed in a new policy.

In contrast, benefiting from new underwriting parameters is not considered a benefit of reinstating a policy. When taking a new policy, the applicant may be evaluated based on the latest underwriting guidelines, which could potentially lead to different coverage limits or exclusions based on their current health status or lifestyle choices. Therefore, this option does not align with the advantages of reinstatement.