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Business Glossary

Business Definition for: conditional

Dictionary of Insurance Terms

conditional

terms specifying obligations of an insured to keep a policy in force. For example, an insured must pay the premiums due; in life insurance, if death occurs, the beneficiary or the insured's estate must submit proof of death; if there is a property loss, the insured must submit proof of loss.

Referring Terms:

insurance contract, general

Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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