Question:
What is meant by Cancellation of Insurance?
What is meant by Cancellation of Insurance?
Updated On: Dec 16, 2024
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Solution and Explanation
Cancellation of insurance refers to the termination of an insurance policy by either the insurer or the insured. This could happen due to reasons such as non-payment of pre miums, fraud, or upon the request of the policyholder. Once canceled, the policyholder loses all coverage benefits.
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