Sentences with phrase «applicant for insurance»

Underwriter: The individual or team within a life insurance company who is trained to evaluate the insurability and determine the classification of applicants for insurance protection.

Underwriting: The process by which a life insurance company evaluates applicants for insurance based on a set of guidelines.

The contestability clause protects the insurance company from fraudulent and misleading statements made by applicants for insurance in an attempt to secure coverage at a better health class.

ING has just announced that applicants for insurance who suffer from type II diabetes can still qualify for preferred rates provided that they meet the proper criteria.

The contestability period protects the insurance company from fraudulent and misleading statements made by applicants for insurance.

Insurability: General acceptability by an insurance company of an applicant for insurance based on underwriting review, which may include items such as the applicant's current health status, medical history and driving record among others.

Insurability The circumstances under which an insurance company can issue a policy on an applicant for insurance.

With this policy, applicants for insurance can be between the ages of 15 days through 15 years, and coverage is available between $ 10,000 and $ 50,000.

It is the burden of the insurance company to prove that an applicant for insurance lied or committed fraud during the application process.

Underwriting: An underwriter assesses the risks associated with an applicant for insurance.

When an applicant for insurance is the same person who is insured, there is no doubt that an insurable interest exists.

Insurability: General acceptability by an insurance company of an applicant for insurance based on underwriting review, which may include items such as the applicant's current health status, medical history and driving record among others.

Proof of a person's physical condition, occupation, or other factors, utilized by an insurance company to determine the acceptability of the applicant for insurance.

Further, even if it is deemed that an applicant for insurance has an insurable interest in the insured, the consent of the person to be insured is still required before a policy can be issued.

Conventional methods [7] for determining costs of motor vehicle insurance involve gathering relevant historical data from a personal interview with, or a written application completed by, the applicant for the insurance and by referencing the applicant's public motor vehicle driving record that is maintained by a governmental agency, such as a Bureau of Motor Vehicles.

This is because the applicants for these insurance policies are usually considered to be riskier to the insurance carrier.

If the insurance company can prove in court that an applicant for insurance lied or committed fraud during the application process, a claim can be denied.

Applicant A person named on the Application Form and the Medical Questionnaire as an applicant for Insurance.

Because the Remembrance Life plan is a simplified issue policy, it will not require the applicant for insurance to undergo a medical examination, or to answer a long list of medical related questions.