Definitions for "Free Cover"
Usually relates to group employee benefit schemes (life assurance, PHI) where an element of protection is offered without the need for medical evidence.
The maximum amount of death benefit which an insurance company covering a group of members for death benefits is prepared to insure for each individual, without production of evidence of health.
The extent to which death-in-service benefits will be made available under a group life assurance without investigation of an individual's health.