What does Application mean? Read on to discover the definition & meaning of the term Application - to help you better understand the language used in insurance policies.
Form supplied by the insurance company, usually filled in by the agent and medical examiner (if applicable) on the basis of information received from the applicant. It is signed by the applicant and is part of the insurance policy if it is issued. It gives information to the home office underwriting department so it may consider whether an insurance policy will be issued and, if so, in what classification and at what premium rate.
We hope the you have a better understanding of the meaning of Application.