delay provision
A delay provision is a life insurance policy provision that allows the insurance company to delay policy loans or payment of the cash surrender value for a stated period (usually 6 months).
delay provision
A delay provision is a life insurance policy provision that allows the insurance company to delay policy loans or payment of the cash surrender value for a stated period (usually 6 months).
Additional Information
This provision is intended to protect life insurers from losses from a "run," during tough economic times, on cash reserves built up in life insurance.
