If Bill's Major Medical policy is reinstated on September 10 and he is hospitalized on September 15, what will he receive?

The correct answer is that Bill will receive full benefits from his Major Medical policy because reinstatement of the policy allows for full coverage to be in effect immediately after the reinstatement date, provided the policyholder has met any necessary conditions set by the insurer. In Bill's case, his policy was reinstated on September 10, and he was hospitalized just five days later on September 15. Since there is no waiting period typically associated with reinstatement—and assuming that he had been current with premium payments and there were no other exclusions triggering limitations—he is entitled to full benefits under the terms of his policy.

In many cases, reinstated policies immediately cover the insured for events occurring after the reinstatement date, unless specifically noted otherwise in the insurance contract. Thus, since Bill's hospitalization occurred after the policy was reinstated, he benefits from the full coverage as outlined in his Major Medical policy.