Binding Receipt (Health Care) Law and Legal Definition
Binding receipt is a receipt given for a premium payment that binds a company to make the policy effective from the date of receipt. It is usually accompanied with an application for insurance. It serves as an evidence of a temporary contract between the insurance policy company and the beneficiary to provide coverage as long as the premium accompanies the application.
Legal Definition list
Related Legal Terms
- Accelerated Benefits (Health Care)
- Accumulation Value (Health Care)
- Actual Age (Health Care)
- Actuarial Equivalent (Health Care)
- Acute Care
- Additional Health Services
- Adequate Parental Care
- Adequate Veterinary Care
- Admitting Privileges (Health Care)
- Adoption and Foster Care Analysis and Reporting System (AFCARS)
