What does Decline mean? Read on to discover the definition & meaning of the term Decline - to help you better understand the language used in insurance policies.
Decline, in the context of insurance, refers to the rejection of the request for insurance coverage. An insurance company commonly declines an insurance application if the business or the person applying represents too high of a risk for the insurance company to pay out too much money. Each insurer measures risk based on company and specific standards in the field.
We hope the you have a better understanding of the meaning of Decline.