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What is the coverage usually limited to once the insurer gives the client the conditional premium deposit receipt?
What is the legal limit on the amount of insurance that an individual can take on his life?
Study Notes
Conditional Coverage
- Begins when the insurer provides the client with a conditional premium deposit receipt.
- Limited to accidental death only.
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Insurance Limitations
• No legal limit: The policy does not have a legal limit on the amount of insurance that an individual can take up on his life.<|start_header_id|>assistant<|end_header_id|>
Insurance Limitations can reduce fraud risk
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