(a) There shall be a provision as follows:
“Reinstatement:
(b) The last sentence of the above provision may be omitted from any policy which the insured has the right to continue in force subject to its terms by the timely payment of premiums:
(1) Until at least age 50; or
(2) In the case of a policy issued after age 44, for at least 5 years from its date of issue.