What Does Conditional Receipt Mean?

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

Conditional Receipt

Conditional Receipt

Given to the policyowners when they pay a premium at time of application. Such receipts bind the insurance company if the risk is approved as applied for, subject to any other conditions stated on the receipt.

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

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