Suicide Clause
Limitation in all life insurance policies to the effect that no death payment will be made if an insured commits suicide within the first two years that the policy is in force. This clause protects the company against adverse selection-that is, purchase of a policy in contemplation of planned death in order for a beneficiary to collect the proceeds.
Popular Insurance Terms
Expense of soliciting and placing new insurance business on a company's books. It includes agent's commissions, underwriting expenses, medical and credit report fees, and marketing support ...
Table charting relative costs of a group of cash value life insurance policies derived by using the net cost method of comparing costs (traditional net cost method of comparing costs; net ...
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