quick questions on Chapter 17

Discussion in 'SA1' started by Spock, Mar 3, 2008.

  1. Spock

    Spock Member

    What are mid-term cancellations and what are endorsements?

    Regards,
    Geetha
     
    Spock, Mar 3, 2008
    #1
  2. Anna Walklate

    Anna Walklate ActEd Tutor Staff Member

    Mid-term cancellations are policies that cancel at a time other than renewal.

    Endorsements are additions/changes made to a policy after it has incepted, eg adding another child to a family policy or increasing the benefits.
     
    Anna Walklate, Mar 7, 2008
    #2
  3. Spock

    Spock Member

    answer to questions about ch17

    Thanks for the definitions. Does this mean that for mid-term cancellations, the life insured gets a premium refund if they paid for the full cover upfront in a single premium? Also, for endorsements, does this mean premium can change if benefits under the policy or T&C change?

    Geetha
     
    Last edited by a moderator: Mar 9, 2008
    Spock, Mar 9, 2008
    #3
  4. Steve McIntosh

    Steve McIntosh Member

    Yes usually - for both.
     
    Steve McIntosh, Mar 23, 2008
    #4

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