Lost Policy Release
Definition of "Lost policy release"
same as term Lost Policy Receipt: life insurance company form to be signed by a policyholder who wishes to surrender a policy that has been lost. The signed receipt then becomes evidence that the policy is no longer in force. This protects the insurance company if a policyholder claims that the policy was never surrendered.
Popular Insurance Terms
Monetary guarantee that an individual released from jail will be present in court at the appointed time. If the individual is not present in court at that time, the monetary value of the ...
Standard property/casualty insurance premium set by a state rating bureau. States have responsibility for regulating insurers and making certain that rates are reasonable. To this end, ...
Right to sell a given security at a stipulated price until a future expiration date. For example, assume the "None-Do-Well" company's stock has a market value of $20. Investor A sells ...
Same as term: generally accepted accounting principles (GAAP): ...
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