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 Posted: Fri Aug 15, 2008 3:30 am Post subject: reason for termination of personal |
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| reason for termination of personal accident insurance? |
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carollatube
New member
Joined: 15 Aug 2008
Posts: 1
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| Posted: Fri Aug 15, 2008 5:16 am Post subject: |
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| Quote: | | reason for termination of personal accident insurance? |
Well, there can be many....the main reasons can be misrepresentation of the facts by the policy holder, non-payment of premium, not qualifying the insurability criteria and so forth.
However, if the insurer decides to terminate an insurance policy, he is required to disclose the reason in writing to the insured as well.
Hence, if you have doubts regarding the reason for cancelling the plan, you should shoot the question to the insurer immediately. |
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JeremyHolter
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Joined: 06 Jun 2007
Posts: 1194
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| Posted: Fri Aug 15, 2008 5:26 am Post subject: |
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Well' I think we need more information regarding who wants to terminate the plan? is it the insurance company or the insured?
Carol, please elucidate the query little more.
However, if I consider that the insurer is responsible for canceling the policy in this case, then I've to agree with Jeremy. The insurer should sight the proper reason for cancelling the plan. And if it has been cancelled wrongfully, then you may required to challenge the decision. The insurers can work on their whims and fantasy. |
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jeorge
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Joined: 07 Oct 2005
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| Posted: Fri Aug 15, 2008 5:49 am Post subject: |
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Hi carol, welcome to the community.
Personal accident insurance normally comes as a rider and not as the main policy. It offers coverage to the insured at the event of death or disability due to accident. If you no longer wish to carry it, you can simply ask your insurer to drop it from your plan.
I agree with the other posters that the insurer is responsible to make the insured aware of the reason of policy cancellation, otherwise, the policy can be considered as in force. However, I've heard of incidents where the Personal Accidental coverage ceased for an insured when she was experiencing separation form her spouse, who was the primary insured of the plan. |
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Juanita
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Joined: 04 May 2007
Posts: 735
Location: Idaho
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| Posted: Fri Aug 15, 2008 6:44 pm Post subject: |
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Hi,
This could depend on a number of reasons. Do you have any more information? Any significant events leading to the termination? Did you fabricate some information when you were getting a quote?
auto insurance
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ngreene66
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Joined: 10 Jul 2008
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| Posted: Fri Aug 22, 2008 6:07 am Post subject: |
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When Injury causes you to be permanently and totally disabled within 120 days of a covered accident, and you are prevented from engaging in each and every occupation or employment for compensation or profit for which you are qualified by reason of your education, training or experience and such disability lasts for 12 consecutive months and you are then judged to be permanently and totally disabled, the Benefit Program will pay the Principal Sum less any amount paid or payable under the policy as a result of the same accident, at the rate of one percent per month for 100 months.
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esauldaris
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