And if there are additional insureds or beneficiaries, the binder should clearly specify the names. It should specify the name of the insured.If there is a relevant insurance endorsement which is deemed an important part of the coverage, it should be clearly stated in the binder. The insurance binder should clearly display the deductibles and the type of coverage and the limit.The insurance binder will include the amount of liability coverage of the insured and property. So if it’s life insurance, the life should be identified as the risk. An insurance binder will have the following elements: The insurance binder contains all the important information about the insurance contract that has been purchased. What information is included in the Binder? An insurance binder outlines the basic conditions, coverage, deductibles and includes the name of the insured plus a beneficiary named (optional).
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