Missed Payments & Reinstatement

Grace Period Duration

Payment Frequency	Grace Period	Example
Monthly	One month from original due date	Payment due January 27 → Grace period ends February 27
Semi-Annual	One month from original due date	Payment due January 1 → Grace period ends February 1
Annual	One month from original due date	Payment due April 1 → Grace period ends May 1

What Happens During the Grace Period

While your policy is in the grace period, the following applies:

• Full coverage continues — Your insurance protection remains exactly as it was before the missed payment. All policy benefits are available.
• Claims are valid — If you need to make a claim during the grace period, it will be processed and paid normally. There is no reduction in benefits.
• No late fees — NICE Insurance does not charge penalties or late fees for payments made during the grace period.
• No credit impact — Missed payments during the grace period are not reported to credit agencies and do not affect your credit history.
• Payment restores normal status — Once you make your payment, your policy immediately returns to normal standing with no record of the late payment.

The grace period is designed to protect you from temporary difficulties. However, it should not be used routinely as an extended payment window. If you consistently find yourself relying on the grace period, contact NICE Insurance to discuss adjusting your payment date, changing your payment method, or modifying your payment frequency to better match your cash flow.

Notifications During the Grace Period

NICE Insurance will attempt to notify you when a payment is missed and during the grace period. You may receive:

• An initial notification shortly after the missed payment date informing you that payment was not received
• A reminder midway through the grace period urging you to make payment
• A final warning as the grace period nears expiration, explaining that your policy will lapse if payment is not received

These notifications are sent to help you avoid lapse, but you should not rely on them as your only reminder. The responsibility for making timely payments remains with you. Notifications may be delayed, filtered to spam, or sent to outdated contact information. Monitor your payment due dates independently to ensure continuous coverage.

Immediate Consequences of Lapse

When your policy lapses, the following occurs immediately:

• Coverage ends — You are no longer insured. Any incidents occurring after lapse are not covered.
• Claims denied — If you attempt to claim for an incident that occurred after your policy lapsed, the claim will be denied regardless of when you report it.
• No automatic restoration — Making a late payment after lapse does not automatically restore your coverage. You must go through the reinstatement process.
• Lapse recorded — Your policy history will show a lapse, which may affect future insurance applications or terms.

Risks During the Uninsured Period

While your policy is lapsed, you bear full financial responsibility for any incidents that would have been covered:

• Life insurance — If you pass away while your NICE Lifetime Protect or NICE Term Shield policy is lapsed, your beneficiaries receive nothing.
• Health insurance — Medical expenses during lapse come entirely out of your pocket, with no NICE Medical Guard, NICE Cancer Care, or NICE Hospital Plus benefits.
• Auto insurance — You are personally liable for all damages and injuries if you cause an accident while NICE Auto Protect coverage is lapsed.
• Property insurance — Fire, theft, or disaster damage to your home or belongings is not covered while NICE Home Guard or NICE Contents Cover is lapsed.

The financial exposure from even a brief period without coverage can be devastating. A single day without auto insurance could result in millions of yen in personal liability. A medical emergency without health coverage could drain your savings. Avoiding lapse should be a top priority.

Reinstatement Eligibility

The ability to reinstate a lapsed policy depends on several factors:

Factor	Impact on Reinstatement
Time since lapse	Shorter periods make reinstatement easier; policies lapsed over 2-3 years may not be eligible
Policy type	Life and health policies typically have stricter reinstatement requirements than auto or property
Policy cash value	Policies with cash value (NICE Lifetime Protect, NICE Future Savings) may have automatic premium loan provisions
Claims history	Policies with recent claims may face additional scrutiny during reinstatement

Reinstatement Requirements

To reinstate a lapsed NICE Insurance policy, you typically need to complete the following:

1. Submit a reinstatement application — Contact NICE Insurance to request reinstatement and complete the required application form.
2. Pay outstanding premiums — All unpaid premiums from the lapse date to the present must be paid. This includes the missed payment that caused the lapse plus any premiums that would have been due during the lapsed period.
3. Pay reinstatement fee — A processing fee may apply for reinstatement, depending on how long the policy was lapsed.
4. Complete health declaration — For life and health insurance policies, you must declare your current health status. If your health has changed significantly since the original policy was issued, reinstatement may be declined or offered with modified terms.
5. Undergo medical examination — For policies lapsed longer than a specified period (typically 6-12 months) or where health changes are indicated, NICE Insurance may require a medical examination before approving reinstatement.

Reinstatement for Different Policy Types

The reinstatement process varies by insurance type:

NICE Lifetime Protect and NICE Future Savings (Life Insurance with Cash Value)

These policies may have automatic premium loan provisions that use accumulated cash value to pay premiums, potentially preventing lapse. If the policy did lapse, reinstatement typically requires a health declaration and payment of all outstanding premiums plus interest. The cash value that remained in the policy at lapse is credited toward reinstatement.

NICE Term Shield (Term Life Insurance)

Term policies without cash value lapse immediately when the grace period expires. Reinstatement requires a health declaration and may require medical examination if significant time has passed. If your health has deteriorated since original issue, reinstatement may be declined, and you would need to apply for new coverage at current health-based rates.

NICE Medical Guard, NICE Cancer Care, NICE Hospital Plus (Health Insurance)

Health insurance reinstatement requires careful health disclosure. Any conditions diagnosed or treated during the lapsed period may be considered pre-existing for the reinstated policy and could be excluded from coverage. Reinstatement waiting periods may apply for certain conditions.

NICE Auto Protect (Auto Insurance)

Auto insurance reinstatement is typically straightforward if requested within a reasonable time after lapse. However, a gap in coverage history may affect your premium rates. You must confirm that no incidents occurred during the lapsed period that would have been covered.

NICE Home Guard and NICE Contents Cover (Property Insurance)

Property insurance can usually be reinstated without health requirements. You must confirm the property remains in the same condition as when originally insured and that no losses occurred during the lapsed period.