Explore the term 'Not Taken' in the context of general insurance, where a policy is applied for and issued but ultimately rejected and unpaid.
Understand the concept of flat cancellation in general insurance, where a policy is cancelled on its effective date with no premiums paid.
Learn about duplicate coverage inquiry in health insurance, including its purpose in coordinating benefit stipulations when multiple insurers are involved.
Learn about the contract year in health insurance, which spans from the effective date to the expiration date. Discover how this period affects your coverage.
Learn about inspection in general insurance, a critical process involving the verification of facts about policyholders, claimants, or new applicants by a commercial agency.
Learn what a nonassignable insurance policy is, its restrictions, and why the majority of policies are nonassignable. Understand the implications for the policy owners.
Understand the meaning of a Subscriber in Health Insurance. Learn who is eligible for enrollment and who pays the premiums.
Explore the significance of policy delivery in health and life insurance. Understand the process and its importance in ensuring insurance coverage.
Learn about pro rata, a term used in insurance to describe the allocation of payouts between beneficiaries or the sharing of liability between insurers. This guide explains its significance in insurance contracts.
Explore the concept of utilization in health insurance, defined as the amount of use a health plan receives from a specific group of policyholders. Learn how it's measured and its impact on policy costs.
