Examples of Claim Event in a sentence
If the proceeds are received during the delinquency or after termination of the loan, the funds should be listed as loss proceeds credit on the Basic Claim Event.
Most credits, such as insurance premium refunds, any rents collected by the holder, and any funds the servicer applied to the account to reduce the indebtedness, must be credited prior to loan termination or the servicer’s submission of the Basis Claim Event.
A servicer may submit a Supplemental Claim Event with fully-supported documentation for VA to review any additional credits, advances, or expenses that were NOT submitted on the original Basic Claim Event.
Upon the occurrence of any Insured Claim Event/ Personal Accident that may give rise to a claim under this Policy, then the Policyholder/ Insured Person, must notify Us either at the call centre or in writing, immediately and within seven (7) days of occurrence of such Event.
If a Claim Event arises during the Period of Grace, the Claim will still be considered and if valid, will be paid less the outstanding Premium/s.