Health Provisions Flashcards
Number of days to file a claim
30 Days
Number of days an insurer has to provide a claims form
15 Days
Number of days to submit the claims form or proof of loss
90 days
Time the insurer has to pay a claim
Immediately or within 30 days
Who get payment of claims.
Medical expenses are paid to hospital or physician, AD&D is paid to the insured.
How many days must an insured wait if they want to sue an insurer?
60 days up to 3 years
Insurer must give the insured this many days of notice if the cancel a policy.
10 days.
Insuring clause
The who what when where and why of a policy
Consideration
Exchange of monetary value
Non cancelable
Can be paid with lump sum
Generally disability insurance
Guaranteed Renewable
Generally Medicare, Long Term Care and most health insurance policies
Conditional Renewable
Insured must meet conditions
Ex: small employer must stay under 50 employees
Number of days for reinstatement
45 days
