What Is The Purpose Of A Disclosure Statement In Life Insurance Policies?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaAssuming the question is referring to a product disclosure: Most states require a disclosure statement in a life insurance policy as a consumer protection for the insured and the policy owner. The disclosure statement general attempts to clarify the provisions of the policy or product to prevent misinterpretation of the policy.Answered on May 16, 2013+51+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.Ironically, the purpose of a disclosure statement in life insurance policies is, partly, to describe the purpose and importance of the disclosure. The disclosure statement will state what the policy is intended to do, and what the policyholder's responsibilities are. It will outline the coverage, cost, personal information of the insured, source of the insurance, and certification and maintenance of the policy.Answered on September 6, 2013flag this answer
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