What Does Conditional Premium Receipt Mean?

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

Conditional Premium Receipt

Conditional Premium Receipt

Life insurance policy receipt issued upon payment of the first premium by an applicant. It makes the policy in force before the policy documents are issued, provided the applicant meets all requirements. Also called conditional receipt.

We hope the you have a better understanding of the meaning of Conditional Premium Receipt.

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