Conditional binding receipt

{
  "id": "MLC-T-INS-000892",
  "term": "Conditional binding receipt",
  "field": "Insurance and risk management",
  "definition": "A temporary insurance agreement issued by an insurer's agent to an applicant for life insurance, providing immediate coverage from the date of the application if certain conditions are met. Coverage typically becomes effective on the date of the application or medical examination, whichever is later, provided the applicant is found insurable. If the conditions are not met, no coverage is provided.",
  "url": "https://mlchart.com/terminology/insurance/conditional-binding-receipt/"
}