Accept premium on lapsed policy but not fully reinstate?

So a policy has lapsed to ETI or RPU and then the policy holder sends in a number of months of premium but the amount sent in would not fully reinstate the policy. Meaning the policy would either be in the grace period or actually beyond the grace period so that the admin system would immediately or very quickly put the policy back to ETI or RPU status with a greater value (either longer term or higher reduced face).

Should the company accept the premium? Or should the company return the premium stating that it was not enough to reinstate the policy?

What does the policy form say about reinstating the policy?


i would return it, as accepting it puts you in a precarious position.

you have the choice to reinstate, if it comes in late, but you need to control the timing