Search results
Results from the WOW.Com Content Network
The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
There are regulations concerning payment of the Consorcio tax within a certain time of the inception date of the policy. The timelines are very strict – payment of the tax should be made to the Consorcio office within 7 days (of inception of the policy) for a new risk, and within 30 days for a renewal.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Many policyholders opt to pay their car insurance premiums on a monthly basis. However, there are times when you might miss a payment due to forgetfulness or because you cannot afford it.
Since its inception, Lloyd's has operated not as an insurance company but as a gathering place of individuals (and more recently, small groups of individuals) issuing insurance policies. [47] In 1720 the Royal Exchange Assurance Corporation received its royal charter under the Royal Exchange and London Assurance Corporation Act 1719. The act ...
The Act of 1988 established the 7-Pay Test, which is a stipulated premium that would create a guaranteed paid up policy within 7 years from policy inception. If premiums paid to the contract go beyond (i.e. are higher than) the premium amount stipulated then the contract has failed the 7-Pay Test and is reclassified as a Modified Endowment ...
Smaller organizations must, and self-insured organizations may, purchase a workers' compensation insurance policy to cover obligations for work-related injuries to employees. [26] Some self-insured organizations will use a "hybrid" approach, hiring an insurance company to investigate workers' compensation claims, but paying the claims itself ...
And while you may pay a higher premium if you are living with a mental health condition, you will still most likely be able to get a life insurance policy. In the case of physician-assisted ...