Question

An Accident and Health policy contains a Consideration clause which states:

A) The policyholder's obligation to notify the insurer of a claim
B) The policy's premium payment frequency
C) The policy's grace period
D) The policy's exclusions

Answer 1

The Consideration clause in an Accident and Health insurance policy refers to the policyholder's obligation to notify the insurer of a claim.

Step-by-step explanation:

An Accident and Health policy's Consideration clause typically refers to the policyholder's obligation to notify the insurer of a claim. It outlines the policyholder's responsibility to provide the necessary information about the claim and notify the insurer within a specified timeframe. This clause is important to ensure that the insurance company is promptly informed about claims and can process them efficiently.