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
Irrevocable trust into which the grantor places assets and retains the income from or the use of these assets for a stipulated period of time. At the termination of this time period, the ...
Trust in which assets are controlled through several generations and makes use of generation-skipping tax exemption. ...
Coverage of a single life, in contrast to group life insurance, which covers many lives. ...
State of anxiety and distress. One goal of adequate insurance is to eliminate, or alleviate, worry on the part of a policyholder. Many people, for example, are concerned that they would not ...
Effort of a poor risk to seek insurance coverage. The onset of a health problem such as heart disease, for example, may prompt a person to apply for life insurance before seeking medical ...
Health insurance plan where a group of physicians and dentists provide medical services to a group of individuals for a predetermined fee. It is a basic type of HEALTH MAINTENANCE ...
Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...
Coverage for damage or destruction of property with relatively high monetary value, such as stock brokerage house and bank shipments, which involve the transfer of securities and monies to ...
Periodic payments to an annuitant. ...
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