Doctrine Of Utmost Good Faith

Dictionary Says

Definition of 'Doctrine Of Utmost Good Faith'

A minimum standard that requires both the buyer and seller in a transaction to act honestly toward each other and to not mislead or withhold critical information from one another. The doctrine of utmost good faith applies to many common financial transactions.

Also know in its Latin form as "uberrimae fidei".
Investopedia Says

Investopedia explains 'Doctrine Of Utmost Good Faith'

In the insurance market, the doctrine of utmost good faith requires that the party seeking insurance discloses all relevant personal information. For example, if you are applying for life insurance, you are required to disclose any previous health problems you may have had. Likewise, the insurance agent selling you the coverage must disclose the critical information you need to know about your contract and its terms.

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Search results for

'Doctrine Of Utmost Good Faith'

  • Exploring Advanced Insurance Contract Fundamentals

    http://www.investopedia.com/articles/pf/06/advancedcontracts.asp
    ... (To read the basic fundamentals, see Understand Your Insurance Contract.) The Doctrine
    of Utmost Good Faith The doctrine of utmost good faith is a key ...
  • Understanding Your Insurance Contract

    http://www.investopedia.com/articles/pf/06/insurancecontracts.asp
    ... Doctrine of Utmost Good Faith All insurance contracts are based on the concept
    of "uberrima fidei", or the doctrine of utmost good faith. ...

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