Insurability Conditional Premium Receipt
Offer made by the insurance company to insure an applicant, provided the applicant is insurable according to the underwriting standards of the company, and the applicant accepts the offer by making the premium payment. If the applicant should die prior to the application and premium reaching the home office, and the applicant would have qualified for insured status according to the underwriting standards of the company, the death benefit would be paid to the applicant's beneficiary. Thus, the insurance policy applied for goes into effect upon the date of the conditional receipt if the applicant is later found to be insurable according to the underwriting standards of the company.
Popular Insurance Terms
Coverage provided for the insured's personal property in the event the insured incurs a loss resulting from theft, burglary, robbery, or malicious mischief, regardless of whether the loss ...
Provision of liability policies and the liability sections of package insurance policies, such as the personal automobile policy (pap), that pay medical expenses without regard to fault. ...
Coverage in the event an employee is kidnapped from an insured business's premises and forced to return to aid a criminal in a theft. ...
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Curve that results when yields on short-term treasury issues exceed those on long-term government debt. A widely accepted theory holds that when short-term and intermediate term issues are ...
Deleveraging of the insurance company's balance sheet. ...
Extension of coverage available under the Standard Fire Policy. The standard policy only covers the perils of fire and lightning. The endorsement covers riot, riot attending a strike, civil ...
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