Qualification

 

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Qualification

The process of reviewing a prospective borrower's credit and payment capacity prior to approving a loan.



Qualification

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Qualification period

Qualification period

That period of time, as stated in an insurance policy, during which benefits are not payable to the insured following a claim. This period is to enable the insurance company to confirm that the claim is genuine and is usual in health insurance.


Qualification period

Qualification period

A period of time during the first few months or weeks of a new policy when an insurance company will not reimburse a policyholder for a claim in order to allow the insurance company time to find any fraudulent information in the application.




 
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