InsuranceSecondary Beneficiary Reasonable and customary Misstatement-of-sex clause Claims-made policy Third-party administrator Compulsory auto insurance
Common disaster clause
Life insurance policies often include a clause known as the "common disaster provision". This provision specifies what will happen to the life insurance proceeds if the named beneficiaries were to pass away in the same accident. In such cases, the proceeds would typically be distributed among the remaining living beneficiaries or to the estate of the deceased. It is important to understand this provision when selecting beneficiaries and ensuring that your loved ones are taken care of in the event of a tragedy.
Related terms
Understand the meaning and definition of Secondary Beneficiary in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Reasonable and customary in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Misstatement-of-sex clause in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Claims-made policy in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Third-party administrator in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Compulsory auto insurance in the context of stock market, trading, and investments.
MOREExplore other categories


