Uniform Simultaneous Death Act
Definition of "Uniform simultaneous death act"
Statute in most states under which, if no evidence exists in a common disaster (when an insured and beneficiary die within a short time of each other in an accident for which determination cannot be made as to who died first), the presumption is that the insured survived the beneficiary and the life insurance proceeds will either be paid to a secondary beneficiary (if named in a policy) or, if not named, then to the insured's estate.
Popular Insurance Terms
Employee of a state insurance department who audits statements of insurance companies to determine their continued solvency. ...
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Agreement among insurance companies through which a multinational employer is permitted to purchase employee benefits coverage's for two or more of its overseas subsidiaries under a single ...
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