A receipt which is used in life, health and certain property insurance contracts. It indicates that coverage begins on the date the insured received the receipt. Typically in order to receive the receipt, a premium payment must be received by the insurer along with a completed acceptable application. Also called conditional receipt or a binding receipt (depending on the type of insurance).
Related information about conditional binding receipt:
- Conditional Binding Receipt Definition | Investopedia
A receipt involved in life, health and certain property insurance contracts; if the insured is deemed to be covered by the insurer, the coverage begins on the date ...
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Definition of conditional binding receipt: A receipt which is used in life, health and certain property insurance contracts. It indicates that coverage begins on the ...
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conditional binding receipt - A receipt in life insurance that guarantees that if the risk is accepted, the named insured is insured from the date of issuance of the ...
- 409 F.2d 999
He was given a 'Conditional Binding Receipt'. ... The 'Conditional Binding Receipt' issued on August 11 and given to Mr. Scheinman acknowledged the $250.00 ...
- Life Insurance Glossary and Definitions | Hinerman Group
Conditional Binding Receipt: This is the more exact terminology for what is often ... A life and health insurance policy without a conditional binding receipt is not ...
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Conditional Binding Receipt: This is the more exact terminology for what is often ... A life and health insurance policy without a conditional binding receipt is not ...
- Importance of binding life insurance coverage
Jan 12, 2011 ... The coverage begins on the date the applicant receives a conditional binding receipt. If youqualify for life insurance, you are not left without ...
- Glossary - OfficialQuote - Life Insurance Quotes and Annuities
Conditional Binding Receipt -: Provides that if a premium check accompanies an application, the coverage will be in force from the date of the completed ...