Sentences with phrase «insurance policy owner suffers»

If a life insurance policy owner suffers a major critical illness while still working, life insurance is typically one of the first bills that are left unpaid, even if it causes the policy to lapse.

Not exact matches

In a key mandate, Greenwood represented a firm of insurance brokers in a claim brought by the owner and operator of a waste recycling plant, which suffered a major fire that was not covered by the insurers of the plant; the claimants contended that the policy brokered by the client was not suitable.

The owner of a life insurance policy has an insurable interest in the insured when the policy owner is likely to benefit if the insured continues to live and is likely to suffer some loss or detriment if the insured dies.

Life insurance regulations have evolved to require a relationship in which the policy owner will suffer a financial loss in the event of the insured's demise.