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A Spendthrift clause in a life insurance policy is designed to protect?
Wiki User
∙ 12y ago
the beneficiary from giving credits access to their inheritance
Wiki User
∙ 12y ago
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What is offset clause?
Offset clause is a provision in an agreement which allows for debits to be balanced against credits. This is most often found in insurance policies.
What is a negative pledge clause?
A negative pledge clause is a type of covenants clause that companies issuing bonds may have to adhere to in their indenture. Specifically it restricts how much debt can rank ahead of this debt. It is another way to protect bondholders.
What is a life insurance conversion clause?
Many term or group term life insurance policies provide a conversion clause, which allows the covered person to purchase a permanent life insurance policy at the same medical condition rates you have on the term policy. The rates would be based on your attained age at the time of your conversion but if you health had deteriorated, it is still a good benefit.
Can an insurance company refuse to pay on a paid up policy?
Not if the insured died and it was beyond the 2 year contestibility and suicide clause period.
What is the provision in a insurance policy that protects the lender of the mortgage from any acts of the borrower that could invalidate coverage or leave the lender without security?
The mortgagee clause will give the lender notice of cancellation but it will not protect the lender for actions or damages done by the insured on the policy. All property policies specifically exclude intentional acts by an insured.
What are some examples of when no fault insurance would be needed?
If you are involved in an automobile accident caused by another driver, and that driver carries no insurance, your no-fault clause is designed to protect your financial interests.
What is transit clause in marine insurance?
transit clause marine insurance
What is incontestability clause in life insurance policies?
You can find this by looking at the "Incontestable Clause" in your life insurance policy. The "Incontestable Clause" states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
What is rsd insurance clause?
rsd means
Is 72 hour clause in engineering insurance policy advantage or disadvantage?
The 72-hour clause in an engineering insurance policy is an advantage to the homeowner and not a disadvantage.
Does increased cost of construction insurance clause affect the co-insurance clause of the policy?
NO, Increased Cost of Construction is exactly as stated, also known as "Replacement Cost". It does not affect the Coinsurance clause of your insuring contract
Is there a suicide clause on a group life insurance policy?
no
In what two ways does the first amendment protect freedom of religion?
The Establishment Clause and the The Free Excercise Clause
What is the uninsured motorist clause about in the US?
The clause in a policy of insurance on a motorcycle, provides that if the owner of the motorcycle is injured by a negligent driver of another vehicle who doesn't have liability or insurance, then the insurance company will pay its insured's damages.
Can home insurance override grandfathers clause?
Yes, When it comes to underwriting guidelines and acceptability of the risk. A grandfather clause does not circumvent your Insurance companies underwriting guidelines or eligibility requirements.
How does congress protect the rights of authors and inventors?
copyright clause
What is the Illinois life insurance incontestability clause?
2 years.
