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Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions Business Math17th EditionMary Hansen 3,684 solutions What type of policy allows the insurance company to cancel a policy at any time?Cancelable insurance is a type of policy that either the insurance company or the insured party may terminate during the coverage term. Usually, the insured can terminate a cancelable policy at any time, but If the insurer cancels the policy, they must give advanced notice and also refund any prepaid premium.
What type of policy allows the insurance company to cancel at any time quizlet?Policies which are Cancellable permit the insurance company to cancel the policy by putting the insured on formal written notice at any time. This provision requires the insurance company to place the insured on formal written notice at least forty-five (45) days prior to the date of cancellation.
What type of policy allows the insurer to cancel the policy on any specified date and to increase the premiums for any class?The conditionally renewable provision in an insurance policy allows an insurance company to cancel immediately, not renew at the renewal date, or increase premiums on a policyholder under certain conditions. This provision benefits the insurer, not the policyholder.
What type of policy allows an insurer to cancel a policy of certain circumstances stated in the contract happen?Key Takeaways. A cancellation provision clause is a provision in an insurance policy that permits an insurer to cancel a policy at any time before its expiration date.
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What type of policy allows the insurance company to cancel a policy at any time quizlet?
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