MN Laws Rules Regulations Flashcards
when will coverage begin for newborn children
from the moment of birth
how long does coverage under the newborn/adopted provision benefits cover children
until age 18
if coverage ends due to death or divorce how long will coverage continue for the spouse under COBRA
36 Months
when does coverage for adopted children begin
from date of placement
If the insured has a emotionally disabled child how will the child be covered
on the same basis
the policy provision that allows the insured to return the policy for a full refund within 10 days of purchase
Free-Look
With an optionally cancelable provision, the insurer can cancel the policy at any time by providing a written notice within how many days
no less than 5 days
with the optional cancellation provision if the insured wishes to cancel the policy what happens to any unearned premiums
they must be returned to the insured
If the insured has more than one policy covering a loss and those companies have not been notified prior to the loss of more than one policy how will each company respond
on a pro rata basis
-paying their proportionate amounts of the total claim
If a loss occurs and the insured is late paying the premium, how will the insurer respond
the unpaid premium will be deducted from the claim and the new net amount will be paid
