Sentences with phrase «death of the insurer within»

Not exact matches

The contestability period lets an insurer investigate deaths within the first two years of a policy, and if they find evidence of fraud (like you didn't tell them something about your mental health history) they can lessen the death benefit given to your beneficiary or outright deny it.

Further, the commenter stated that particularly in cases where the policyholder dies within two years of the policy's issuance (within the policy's contestable period) and the cause of death is uncertain, the insurer's inability to access relevant protected health information would significantly interfere with claim payments and increase administrative costs.

Also, insurers undertake serious investigations if the death of the policyholder occurs within two years of taking the policy.

In most plans, it states that death incidents resulting from suicide shall not be covered by the insurer if it is within two years of the policy purchase.

If the person dies within the specified term, the insurer pays the face value of the policy; if the term expires before death, there is no payout.

The application becomes a part of the legal contract of insurance, and the insurer is generally allowed to challenge misstatements if death occurs within 2 years of policy issue.

Accidental Death is defined as death caused solely by external, violent, unforeseeable and visible means, occurring independently of any other causes and within ninety (90) days of such trauma, proved to the satisfaction of the inDeath is defined as death caused solely by external, violent, unforeseeable and visible means, occurring independently of any other causes and within ninety (90) days of such trauma, proved to the satisfaction of the indeath caused solely by external, violent, unforeseeable and visible means, occurring independently of any other causes and within ninety (90) days of such trauma, proved to the satisfaction of the insurer

The rider provides for the insurer to advance the insured a large portion of the death benefit if they are diagnosed with a terminal illness and expected to die within a year.

Under New Jersey state code, insurers must pay claims within two months of receiving paperwork proving death of the policyholder.

Since the insurer is taking on an unknown health risk, they will apply a waiting period of two or three years before they will pay the death benefit if you die within that period from natural causes.

* Accidental Death is defined as traumatic death of the member caused solely by «accident», occurring independently of any other causes and within one hundred and eighty (180) days of such trauma, proved to the satisfaction of the insDeath is defined as traumatic death of the member caused solely by «accident», occurring independently of any other causes and within one hundred and eighty (180) days of such trauma, proved to the satisfaction of the insdeath of the member caused solely by «accident», occurring independently of any other causes and within one hundred and eighty (180) days of such trauma, proved to the satisfaction of the insurer.

Record searches can be requested from the Disclosure Office of the MIB \ n. \ nIf no beneficiary comes forward to collect the death benefit, and the insurance company does not locate a beneficiary, the insurer will send the death benefit to the state within a certain period of time (usually three years, although it varies depending on state).