What is the Definition of Void?
A policy contract that for some reason specified in the policy becomes free of all legal effect. One example under which a policy could be voided is when information a policyholder provided is proven untrue.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Void?
You can find random definition and meaning of insurance terms below:
What is the meaning of Group Credit – Life
contracts sold in connection with loan/credit transactions or other credit transactions, which do not exceed a stated duration and/or amount and provide insurance protection against death.
What is the meaning of Group Health Organizations – Health Maintenance (HMO)
a plan under which an enrollee pays a membership fixed fee in advance in return for a wide range of comprehensive health care services with the HMO's approved providers in a designated service area.
What is the meaning of Guaranty Fund
funding mechanism employed by states to provide funds to cover policyholder obligations of insolvent reporting entities.
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