REINSTATEMENT
Once a Plan Sponsor has been terminated for
non-payment of premium, the producer and/or Policyholder can request a
Policy reinstatement. Request for reinstatement must be made within 30
days of the termination date of the Policy. SLG Benefits only allows
one reinstatement per Policy Period. Additional reinstatement requests
will be granted at the sole discretion of SLG Benefits.
When a Producer submits a request for reinstatement, it should be
directed to the producer’s SLG Underwriter.
In the reinstatement package, we will require the following items be
submitted:
- The Reinstatement Application to be completed and signed by an
officer of the
Plan Sponsor.
- Our standard Disclosure Statement, to be completed and signed
using the
most current claims information.
- The submission of a current monthly aggregate paid claims report
(if aggregate
coverage is to be reinstated).
- Premium through the current month of the request for
reinstatement.
The reinstatement package must be returned to SLG
Benefits within 15 days of receipt by the Producer for consideration
of reinstatement. Failure to return the reinstatement package within
15 days will result in forfeiture of the Policyholder's ability to
apply for reinstatement. After complete review of the reinstatement
package, SLG will issue their decision with 15 days which may include:
- Reinstatement with no changes to the Policy
- Reinstatement with revised Policy terms
- Denial of reinstatement request
A sample
Request for Reinstatement Form can be found in the
Forms Section
of this Guide.
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