What Does Coinsurance Plan of Reinsurance Mean?

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What does Coinsurance Plan of Reinsurance mean? Read on to discover the definition & meaning of the term Coinsurance Plan of Reinsurance - to help you better understand the language used in insurance policies.

Coinsurance Plan of Reinsurance

Coinsurance Plan of Reinsurance

Coinsurance plan of reinsurance refers to a situation in the insurance industry where an insurance company transfers a financial responsibility to a reinsurer regarding a life insurance policy. That responsibility is a portion of the death benefit. Once a claim is made, the reinsurer gives the fixed amount to the insurance company. The company then gives that amount to the beneficiary.

We hope the you have a better understanding of the meaning of Coinsurance Plan of Reinsurance.

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