Policy Provision Definitions

Card Set Information

Author:
hicksmix6
ID:
308531
Filename:
Policy Provision Definitions
Updated:
2015-09-25 20:14:52
Tags:
oklahoma
Folders:
insurance
Description:
Policy Provision in Health Insurance
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  1. A 20 day period of time that the insured must notify the insurer in writing of a claim.
    Notice of Claim
  2. Provision that states the policy only consists of the policy and any attachment and the producer can't change or modify the policy
    Entire Contract
  3. Period of time described as: 60-day minimum and the maximum of 3 years
    Legal Actions
  4. Rule the changes the recipient of the benefits of an Accidental Death Policy
    Change of Beneficiary
  5. Period of time that the insured bay be allowed to put the coverage back in force.
    -Injury = immediately
    -Sickness = after 10 days
    Reinstatement
  6. Period of Time the insurer will pay claims after the premiums are past due:
    -7 days, weekly
    -10 days, monthly
    -31 days, any other
    Grace Period
  7. 90 days (after the claim form is sent) for the insured to mail verification of bills
    Proof of Loss
  8. After the policy is in force for a certain period of time, insurer can't deny benefits except for intentional act of fraud
    Time Limit on certain Defense
  9. Immediate
    Time Payment of Claims
  10. 15 days for the insurer to send the claim form to be completed by the insured
    Claim Forms
  11. Allows the insurance company to order additional exams to verify medical expenses, disability, and other claims at the insurer's expense, if not prohibited by law
    Physical Exam and Autopsy
  12. provision that states to whom the claim payments are paid
    Payment of Claims

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