Learn about the terminally ill status in health insurance, including its definition and implications for policyholders and beneficiaries.
Understand the concept of adhesion insurance contracts, which are non-negotiable and offered on a take-it-or-leave-it basis in general insurance terms.
Learn about the designation of an irrevocable beneficiary in life insurance and the importance of obtaining consent to make changes.
Learn about Noncancellable Health Insurance policies where the insured can maintain coverage by paying premiums, with guaranteed terms and unchangeable premiums.
Learn about the time of payment of claims provision in health insurance, which mandates that claims be paid immediately or within a specified number of days.
Explore the significance of the incontestable clause in health and life insurance policies. Learn how this stipulation limits the insurer's time to dispute policy information, protecting policyholders from denied claims due to preexisting conditions or health misrepresentations.
Learn about the change of beneficiary provision in general insurance policies, allowing insured individuals to alter beneficiaries unless irrevocable.
Learn about the time limit on certain defenses in health insurance, a mandatory provision that limits the insurer's ability to deny claims based on pre-existing conditions. Understand its legal implications and coverage details.
Explore the concept of nonforfeiture values in life insurance and learn about the options policyholders have when they stop paying premiums, including paid up surrender value and cash surrender value.
Explore the Beneficiary Clause in general insurance, allowing the insured to designate and change a beneficiary at any time. Learn its importance and implementation.
Learn about Member Certificate in Health Insurance, which is synonymous with a Certificate of Coverage. Understand its importance and uses.
