A document completed by a physician or another approved examiner and submitted to an insurer to supply medical evidence of insurability (or lack of insurability) or in relation to a claim.
Reasonable charges for medical, surgical, x-ray, dental, ambulance, hospital, professional nursing, prosthetic devices, and funeral expenses. (The insurance company defines what is reasonable.)
Act of making, issuing, circulating or causing to be issued or circulated an estimate, an illustration, a circular or a statement of any kind that does not represent the correct policy terms, dividends or share of surplus or the name or title for any policy or class of policies that does not in fact reflect its true nature.
The charge for the element of pure insurance protection in a life insurance policy.
The first factor considered in life insurance premium rates. Insurers have an idea of the probability that any person will die at any particular age; this is the information shown on a mortality table.
The number of deaths in a group of people, usually expressed as deaths per thousand.
A table showing the incidence of death at specified ages.
Loss of Maintenance Fees Coverage
This coverage protects the association against the loss of maintenance fees when occupancies have been interrupted or impaired by the occurrence of any insured peril.
This is a form of Business Interruption insurance for the association. It assures continuous income while the building is untenantable.
Medical Payments - General Liability
A general liability coverage in which the insurer reimburses without regard to the insured's liability, the insured and others (as specifically provided in the policy) for medical and funeral expenses incurred by such persons as a result of bodily injury or death sustained by accident under the conditions specified in the policy.
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