01.Core Concepts

Payment of claims: Death benefits are paid to the beneficiary Physical exam and autopsy provision: Gives the insurer the right to examine the insured at its own expense when a claim is pending Legal action provision: Requires the insured to wait at least 60 days after proof of loss is submitted before legal action can be brought against the insurer Change of beneficiary: Consent of the beneficiary is not required unless the beneficiary designation is irrevocable ‹#›