Noncancellable Insurance Policy


Definition of "Noncancellable insurance policy"

Jason Coker
Jason Coker Legendary Realty

Insurance contract that cannot be cancelled by the insurance company. Since the insurance policy is a UNILATERAL CONTRACT instead of a BILATERAL CONTRACT, the INSURED may cancel at will. Only the insurer makes a promise of future performance and only the insurer can be charged with breach of contract.

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