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What is the consideration given by an insurer in the Consideration clause of a life policy?
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Is premium cost the value of insurance policy?
No. The premium is your consideration (monetarily) for coverage that the insurer provides. Your value lies within your policy limits as stated on the declarations page of your policy.
How do you go about surrendering a life insurance policy?
You are apply before the insurer for surrender of the policy along with Surrender Voucher and NEFT form duly filled in and signed along with a cancelled cheque for their consideration and doing the needful.
What are major consideration on developing a policy?
cost and benefit
What is the policy premium?
consideration paid by u 4 making contract enforceable
Under the policy of realpolitik what was the most important consideration in formulating a relationship with another country?
Its power.
Foreign policy should be based on consideration of power not ideals or moral principles is the philosophy of who?
Realpolitik
What evidence is required for an insurance contract to be legal?
I don't think that the term "evidence" is the best one to use. Like any other contract, in order for an insurance contract to be binding and enforceable, 3 elements need to exist: an offer, an acceptance and consideration. As far as insurance contracts are concerned, the offer consists of the application that the proposed insured submits to the insurer when coverage is sought. The application may be submitted directly to the insurer if it is a "direct writer", or more commonly, through an insurance agent. The acceptance is when the insurer accepts the risk as evidenced by the issuance of the policy. The consideration consists of the insured's promise, and fulfillment of that promise, to pay premiums.
For promotions What policy do some unions require employers to follow?
The policy of seniority, where the employees with the greatest service time with the company are given preferred consideration.
What is unlawful consideration in contracts?
Section 23The consideration or object of an agreement is lawful, unless- it is forbidden by law 1[ ; or is of such a nature that, if permitted, it would defeat the provisions of any law; or is fraudulent; or involves or implies injury to the person or property of another or; the Court regards it as immoral, or opposed to public policy. In each of these cases, the consideration or object of an agreement is said to be unlawful. Every agreement of which the object or consideration is unlawful is void.
What is the policy that gives special consideration to women and minorities by giving them preferences in school admissions and job applications?
Affirmative Action
What is auto insurance premium?
An auto insurance premium, like any insurance premium, is the amount of money that is paid on a periodic basis to an insurer in consideration for which the insurer accepts financial liability for a designated range of risks. Typically, the duration, terms and conditions of the risk transfer are enumerated in a written insurance policy, as is the amount of the premium to be paid and the frequency of payment. Try this site where you can get quotes from different companies usinsurancequote.org
What is definition of sunset clause in liability insurance policy?
A sunset clause is a provision in a liability policy which states that the insurer will respond only to losses reported before some predetermined future date (sunset), usually a set period after the expiration of the policy.
