Ask Question
BusinessBusiness
3 November, 02:04

If the insurer offers to renew the policy on different terms, how long does the policyholder have to cancel the policy without being penalized?

+2
Answers (1)
  1. 3 November, 02:53
    0
    30 days after receiving notice of the changes

    Explanation:

    If the insurer offers to renew the policy on different terms, how long does the policyholder have to cancel the policy without being penalized?

    An insurer is defined as - a person or company that underwrites an insurance risk; the party in an insurance contract agrees to pay compensation. Generally, the term insurer is synonymous with the term insurance provider or insurance company.

    A policyholder is a person who buys an insurance policy. The policyholder is protected by the details in the insurance policy. He or she can add more persons to the policy depending on the type.

    In most cases, a policyholder is allowed to cancel the policy within 30 days without been penalized for a short rate cancellation fee.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the insurer offers to renew the policy on different terms, how long does the policyholder have to cancel the policy without being ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
One of the advantages of integrated carriers (truck-air) like UPS and Federal Express is that they: Group of answer choices utilize commercial airlines for air service. outsource much of their air network ... own their own aircraft.
Answers (1)
Lundholm, Inc., reports financial statements each December 31 and issues $600,000, 7%, 15-year bonds dated May 1, 2012, with interest payments on October 31 and April 30.
Answers (1)
A firm can effectively use its operations function to yield competitive advantage through all of the following except a. customization of the product. b. setting equipment utilization goals below the industry average. c. speed of delivery. d.
Answers (1)
If a manager delegates responsibility to a subordinate, he or she must also grant the subordinate authority to make decisions. True/False
Answers (1)
In 2005, Comcast created AZN, a television network for Asian Americans. What type of strategy did Comcast use when it found this unique group of consumers whose specific needs were not being addressed by a cable station?
Answers (1)
New Questions in Business
An HR manager for PepsiCo, a company known for its commitment to diversity, is seeking to hire employees who are very comfortable with racial, cultural, and sexual diversity.
Answers (1)
All of the following food safety hazards can cause food to become unsafe for human consumption, except for: Biological Chemical Metaphysical Physical
Answers (1)
How have technological advancements in knitting affected fabric production? A. by increasing the use of yarn B. by increasing the cost of production C. by increasing design possibilities D. by improving fabric quality E.
Answers (1)
A country that has multinational corporations is most likely to be
Answers (2)
If a tree grew more than 3 feet during the year, how much more likely is it that the tree was at most 50 yards from the river?
Answers (2)
Home » Business » If the insurer offers to renew the policy on different terms, how long does the policyholder have to cancel the policy without being penalized?
Sign Up Forgot Password?