Life Insurance Term Definitions: Clauses

Standard life insurance clauses

  • Entire Contract Clause
  • Misstatement of Age Clause
  • Reinstatement Clause
  • Suicide Clause
  • War Clause
  • Aviation Clause

Life insurance term definitions

Entire Contract clause Establishes the life insurance policy and your application as the entire contract. False statements on your application could be grounds for terminating the policy.

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Misstatement of Age Clause Providing false information about your age, health and/or habits can result in the termination of your policy.

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Reinstatement Clause Lists the conditions that must be met to reactivate a terminated policy.

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Suicide Clause Coverage for suicide is only granted after you have owned the policy for a couple of years.

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War Clause If you are a casualty of war, your insurance company is not responsible for paying the death benefit.

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Aviation Clause Policies with this clause can refuse to pay death benefits proceeds if your death was aviation related.

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Next: Policy illustrations tell you how insurers think they're going to do in the future.

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