The Amount That Must Be Paid Each Year by the Insured

question 90

Short Answer

The amount that must be paid each year by the insured before policy benefits begin is known as the ____________________.

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Definitions:

Article 2

Refers to a portion of the Uniform Commercial Code that deals with the sale of goods.

Provisions

Specific clauses or articles in a contract or legal statute detailing certain conditions, requirements, or stipulations.

Unconscionability

A legal doctrine that describes terms so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are deemed contrary to good conscience.

Good Faith

Acting with honesty, fairness, and sincerity without any intent to deceive or defraud.