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Q: What does NIL mean on an insurance policy?
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What does ee mean in an insurance policy?

If it is health insurance quote. It means Each Employee


What does effective policy date mean?

The Policy effective date is the date that your insurance coverage started under that policy.


What does it mean to have a standardized insurance policy?

An insurance policy would be called standardized, when it covers all the salient international features/standards as laid down by the insurance authority of the country.


What is the cash value in an insurance policy mean?

The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.


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You have insurance coverage if you paid the premium required for that policy. The coverage will pay appropriate types of claims during the period of time of that policy.


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Insurance provision means the conditionality to be adhered to by both the insured and the insurer,as embedded in an insurance policy bond.


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