Term
| can be the insured, the beneficiary, a trust, or another party |
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Definition
| the owner of a life insurance policy |
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Term
| in most cases, the applicant, owner, and insured are the |
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Definition
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Term
| under this clause, the policyowner possesses all contractual rights in the policy while the insured is living |
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Definition
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Term
| include naming and changing the beneficiary, surrendering the policy for its cash value, borrowing the cash value, receiving dividends, and electing settlement options |
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Definition
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Term
| generally have been exercised w/out the beneficiary's consent |
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Definition
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Term
| can designate a new owner by filing an appropriate form with the company |
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Definition
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Term
| states that the life insurance policy and attached application constitute the entire contract btwn the parties |
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Definition
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Term
| in the entire-contract clause, all statements in the application are considered to be representations rather than |
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Definition
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Term
| under the entire-contract clause, unless it is a material misrepresentation and is part of the application, no statement can be used by the insurer to |
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Definition
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Term
| under the entire-contract clause, the insurer cannot change the policy terms unless the policy owner |
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Definition
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