[Answer] The termination of a policy by either the insured or insurer before its expiration date is known as ___________.

Answer: Cancellation
The termination of a policy by either the insured or insurer before its expiration date is known as ___________.
Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss.. An entity which provides insurance is known as an insurer an insurance company an insurance carrier or an underwriter.A person or entity who buys insurance is known as an insured …
Sun May 02 2004 14:30:00 GMT-0400 (Eastern Daylight Time) · A continuous contract has no predetermined end date but generally either party can give 90 days notice to cancel or amend the treaty for new business. A term agreement has a built-in expiration date. It is common for insurers and reinsurers to have long-term relationships that span many years.
Insurance policy – Wikipedia
Whole life insurance – Wikipedia
South African insurance law – Wikipedia
Health insurance – Wikipedia
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 language.
Sometimes there is a life insurance component added so that if the annuitant dies before annuity payments begin a beneficiary gets either a lump sum or annuity payments. Immediate annuity [ edit ] An annuity with only a distribution phase is an immediate annuity single premium immediate annuity (SPIA) payout annuity or income annuity .
Whole life insurance or whole of life assurance (in the Commonwealth of Nations) sometimes called “straight life” or “ordinary life ” is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime provided required premiu…

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