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LSDefine

Simple English definitions for legal terms

first policy year

Read a random definition: wash

A quick definition of first policy year:

First policy year: The first year of a life insurance policy that automatically renews every year. This means that if someone buys life insurance and dies by suicide after the first year, the insurance company cannot use suicide as a reason to not pay out the policy. However, if the person dies by suicide during the first policy year, the insurance company can use suicide as a reason to not pay out the policy.

A more thorough explanation:

Definition: The first year of a life-insurance policy that is automatically renewed annually. During this year, the insurer cannot use the policy's suicide exclusion as a defense to refuse payment if the insured commits suicide. However, after the first policy year, the insurer can use the suicide exclusion as a defense to payment if the insured commits suicide.

Example: John purchased a life insurance policy that automatically renews every year. If John commits suicide during the first policy year, the insurer cannot use the suicide exclusion as a defense to refuse payment. However, if John commits suicide after the first policy year, the insurer can use the suicide exclusion as a defense to refuse payment.

Explanation: The example illustrates that during the first policy year, the insurer cannot use the suicide exclusion as a defense to refuse payment if the insured commits suicide. This is because of the statutory phrase that prohibits the insurer from doing so. However, after the first policy year, the insurer can use the suicide exclusion as a defense to refuse payment if the insured commits suicide.

first-past-the-post voting | first purchaser

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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