What Is Liberalization When It Comes To Insurance?

What is Liberation in regard to an insurance policy?

Liberalization – If an insurance company makes a change to a policy that provides for expanded coverage without requesting increasing the premium cost, the insured then receive the benefit of better insurance coverage as long as the change takes place within a specified period of time. Typically depending on the laws of the state or the insurance companies guidelines, the time period is typically within 60 days from the time an individual purchases the insurance policy.