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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
Yes, your insurance company can cancel your coverage. If you do not pay your premium on time, lie on your auto application or your driver’s license gets suspended or revoked, your insurer could ...
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy ...
It’s a popular choice for those seeking affordable coverage with straightforward benefits. If you decide to cancel your term life insurance, the process is usually pretty simple. One of the most ...
You can call your agent or carrier to request that your policy be canceled on a specific date. You may need to sign a cancellation form to confirm your request. You may also be entitled to a ...