An example may be maximum benefits. The process of investigating claims to ensure that the party who is primarily responsible makes payment. Suicide Clause States that the policy will be voided if the insured commits suicide within a specified period of time. The time is typically one or two years. Total Disability A degree of disability from injury or sickness that prevents insured from earning a living.
Definition depends on wording in a covering policy.
In theory, the agent is to complete some underwriting, such as report all known facts that might affect risk, before submitting the case to the home office underwriter. An evaluation of the appropriateness, necessity, cost-effectiveness, and efficiency of medical services. It is an investigation of procedures, facilities, length of stay, and discharge practices. The duration of time between the beginning of an insured's disability and the start of the benefits payable under a policy providing disability income coverage. Also referred to as the benefit waiting period or qualifying period.