Insurance

The ACORD Cancellation Request Form is a document used to request the cancellation of an insurance policy. The main purpose of this form is to provide a written request for policy cancellation to the insurance company, including the effective date of cancellation.

The form consists of several parts, including the policyholder information section, which requires the policyholder's name, address, and contact information. The form also includes a section for policy information, which requires the policy number, type of policy, and effective date.

An insurance appeal letter is a formal document that is used to request reconsideration of a denied insurance claim. The letter is written by the policyholder or their representative to the insurance company, explaining why they believe the claim should be approved.

The CMS-1500 Health Insurance Claim Form is a standard form used by healthcare providers to submit claims for payment to insurance companies. It is also known as the HCFA-1500 form, named after the Centers for Medicare and Medicaid Services (CMS) and the Health Care Financing Administration (HCFA), the agencies that developed the form.

The insurance contract is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on the behalf of), if certain defined events occur. Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (i.e. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (i.e. a fire insurance policy).

The insurance policy is a contract between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for payment, known as the premium, the insurer pays for damages to the insured which are caused by covered perils under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts.