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Common life insurance policy exclusions. A life insurance exclusion is a situation or circumstance that prevents your beneficiaries from receiving your death benefit. Essentially, it means that ...
In legal usage in the English-speaking world, an act of God, act of nature, or damnum fatale ("loss arising from inevitable accident") is an event caused by no direct human action (e.g. severe or extreme weather and other natural disasters) for which individual persons are not responsible and cannot be held legally liable for loss of life, injury, or property damage.
The Federal Employees' Group Life Insurance Act (FEGLIA) is a United States federal statute passed by the 83rd U.S. Congress and signed into law by President Dwight D. Eisenhower on August 17, 1954. [2] The act provided for a group life insurance policy for most federal employees, similar to those provided for employees of most large industries.
The principle of insurable interest on life insurance is that a person or organization can obtain an insurance policy on the life of another person if the person or organization obtaining the insurance values the life of the insured more than the amount of the policy. In this way, insurance can compensate for loss.
A Contract with God, a short story collection: in the title story, a man struggles with the events of his life in light of what he believes to be a contract with God. God in the Dock , an anthology of C. S. Lewis ' Christian apologetics expressing his contention that modern human beings, rather than considering themselves as being judged by God ...
A life settlement or viatical settlement (from Latin viaticum, something received before death) [1] is the sale of an existing life insurance policy (typically of seniors) for more than its cash surrender value, but less than its net death benefit, [2] to a third party investor. [3]
Health expectancy calculated by Sullivan's method is the number of remaining years, at a particular age, that an individual can expect to live in a healthy state. [2] It is computed by subtracting the probable duration of bed disability and inability to perform major activities from the life expectancy. The data for calculation is obtained from ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...