A term in a Letter of Credit providing for automatic renewal of the credit for an indefinite number of periods until the issuing bank informs its beneficiary of its final expiration.
Insurance Encyclopedia
Evergreen contracts
Managed care plan agreements that renew automatically after the first year has been completed.
Evidence
Signs or indications that something is true or not true (e.g., physicians can use published studies as evidence that a treatment works or does not work).
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That which tends to prove or disprove any matter in question.
Evidence Clause
A clause in a policy which requires the insured to cooperate in the investigation of a claim by producing records and submitting to examinations. This is required to help Surveyor/Loss Adjuster to establish the validity of a claim. An Evidence Clause in a health policy requires the insured to submit to physical examination.
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A clause that obligates the insured to assist the adjuster in determining the legitimacy of a claim by producing documents and being examined. In a health insurance policy, the evidence clause obligates the insured to be physically examined.
Evidence of Coverage
See: “Certificate of Coverage.”
evidence of coverage (EOC)
See: explanation of coverage (EOC) .
Evidence of funding
Proof that sufficient funds are available for completion of the project. Usually a copy of the face sheet of the grant, contract, or cooperative agreement is sufficient.
Evidence of good health
See: evidence of insurability (EOI) .
Evidence of Health
Evidence of good health is required by insurers at the outset of a health insurance and when a lapsed policy is to be revived. In group schemes it is sometimes waived. It is not required on renewal of a permanent health insurance. Policies with options to effect additional insurance may grant the option without further evidence of health being required.
Evidence of insurability
Any statement or proof of a person’s physical condition, occupation, etc., affecting his acceptance for insurance.
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Any statement of proof of a person’s physical condition and/or other factual information affecting his or her acceptance for insurance.