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Cancellation provision Cancellation provision is the process of comparing and evaluating alternatives in order to budget funds for future, generally major,
Waiver-of-premium provision Waiver-of-premium provision refers benefit that can be added to a life insurance policy providing for waiver of all premiums coming due
Time limit on certain defenses provision Time limit on certain defenses provision in an individual health insurance policy that prohibits the company from canceling the policy or denying a claim on the basis of a preexisting condition or misstatement in the application after the policy has been in force for
Reinstatement provision Reinstatement provision allows provision of a health insurance policy that allows the insured to reinstate a lapsed policy by payment of
Other-insurance provisions Other-insurance provisions whose purpose is to prevent profiting from insurance and violation of the principle of indemnity when more than
Exclusive provider organization (EPO) Exclusive provider organization (EPO) is a plan that does not cover medical care received outside of a network of preferred providers.
Coordination-of-benefits provision Coordination-of-benefits provision in a group medical expense plan that prevents over-insurance and duplication of benefits when one person is covered under more than one group plan.
Change-of-plan provision Change-of-plan provision allows life insurance policyholders to exchange their present policies for different contracts; provides
Preferred Provider Organization (PPO) Preferred Provider Organization (PPO) is a Groups of health care providers that contract with employer’s insurance companies, or third-party payers to provide medical care services at a reduced fee.
Vertical service provider Vertical service provider is an application service provider that runs an entire business because it aggregates almost all of the value chain functions for the client business.
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