It provides an additional death benefit when the insured's death is caused by an accident.Actual Age: A method of calculating an applicant's insurance age.

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This method is based on a person's nearest birth date for rate calculations.

If the person's birth date is within the next six months, they are considered the next age.

This term also refers to the settlement of a life insurance policy under the contract's annuity options.

Annuity: A contract sold by a life insurance company that provides fixed or variable payments to an annuitant, either immediately or at a future date.

Adjustable Life Insurance: A form of life insurance which allows the policy owner to change various benefits of the policy including the face amount, the premium amount, the length of coverage and the length of the premium payment period.

Adverse Selection: The tendency of persons with poorer-than-average health expectations (higher risk) to apply for or continue insurance coverage to a greater extent than persons with average or better-than-average health expectations (lesser risk).

In this guest post, an attorney at the firm and business law adjunct professor, provide an overview of the Seventh Circuit case and also provides a chronology of other overdraft fee coverage cases.

I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers.

Applicant: The person applying for the insurance policy.

The applicant may be different from the proposed insured or the policy owner.

When authorized by the insurer and the policy owner, the amendment attaches to or becomes part of the policy.