Uniform Individual Accident And Sickness Policy Provisions Act
Definition of "Uniform individual accident and sickness policy provisions act"
Regulations of the national association of insurance commissioners (naic) that dictate provisions that all individual health insurance policies must contain. All states now require these provisions, which include the circumstances under which changes can be made to the policy; how the beneficiary can be changed; submission of proof of loss; reinstatement of the policy; and grace period.
Popular Insurance Terms
Model state law of the NAIC that stipulates minimum non forfeiture values, minimum valuation of assets requirements, and specific minimum policy provisions in universal life insurance ...
Latin phrase meaning "overpowering force"; an unavoidable accident or calamity; an accident for which no one is responsible; an act of god. ...
Compulsory employee benefit plan under which participants are entitled to a series of benefits as a matter of right. The plan is administered by a federal or state government agency and has ...
Contractual rights to a stipulated percentage of the increase in the value of an insurance agency over a given future period of time. They are used to convey a percentage of the increase in ...
(Formerly the American College of Life Underwriters) accrediting body for the CLU (Chartered Life Underwriter) and the ChFC (Chartered Financial Consultant) designations. Provides ...
Transportation firm that must carry any customer's goods if the customer is willing to pay. Common carriers include trucking companies, bus lines, and airlines. ...
Personal and family loss by death, disability, sickness, old age, accident, and unemployment. All of these exposures are insurable, and coverage's can be purchased under a variety of ...
Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operations and sell its products in a ...
Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building where zoning requirements mandate more costly construction material. This endorsement is ...
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