Twelve mandatory policy provisions

Question 1

State the insurance policy itself any Riders and endorsements amendments and the application comprise the entire contract between all parties

Answer 1

Entire contract

Question 2

States the policy is incontestable after it has been in for a certain. Of time usually two years

Answer 2

Time limit on certain defenses

Question 3

Period After the due date of a premium during which the policy remains in force without penalty

Answer 3

Grace period

Question 4

Putting a lapsed policy back and force by producing satisfactory evidence of INSURABILITY and any past due premiums required

Answer 4

Reinstatement

Question 5

A policy provision that describes the policy owners obligation to provide notification of a plane to the insurer within a reasonable period of time typically the. Is 20 days after Appliance are a commencement of the laws are as soon thereafter as is reasonably possible

Answer 5

Notice of claim

Question 6

Specifies the formal request to an insurance company asking for a payment based on the terms of the insurance policy

Answer 6

Claim form provision

Question 7

A mandatory health insurance provision stating that the insured must have bought a completed claim form to the insured within days of the date of loss

Answer 7

Proof of loss

Question 8

Provision that requires claims be paid immediately or within an stated number of days

Answer 8

Time of payment of claims

Question 9

In a insurance contract specifies how and to whom claim payments are to be made

Answer 9

Payment of claims provision

Question 10

Standard health insurance policy provision allowing the insurer to examine the insured when I claim is pending and in the event of death perform an autopsy we’re not prohibited by law

Answer 10

Physical exam in a autopsy provision

Question 11

States the insured cannot take legal action against the company in a claim dispute until after 60 days from the time the insured submit proof of loss at least give us 2 months before you can take us to court

Answer 11

Legal actions provision

Question 12

A provision that permits the insurer to change the beneficiary as often and he or she wishes except in policy with a beneficiary is irrevocable

Answer 12

Change of beneficiary

Question 13

Allows the insurer to reduce the maximum benefits payable under the policy if
The insured switch to a more hazardous occupation or reduce premium rate

Answer 13

Change of occupation provision