Preexisting Condition
Definition of "Preexisting condition"
Illnesses or disability for which the insured was treated or advised within a stipulated time period before making application for a life or health insurance policy. A preexisting condition can result in cancellation of the policy.
Popular Insurance Terms
Federal law requiring that all pension plan trustees and anyone else who handles pension funds must obtain a fidelity bond. This bond covers the plan in the event of embezzlement and theft. ...
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Section of the insurance policy that lists all of the provisions that are applicable to the insurance coverage provided under that section. This section is attached to the policy jacket ...
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Right of a policyholder, in life insurance with cash values, to continue full coverage for a limited period, as shown in a table in the policy, with no further premiums payable. ...
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