CONTRACT TERMS (CLAIMS BASIS)
Eligible Specific and Aggregate claims are
reimbursed based on the Policyholder's Incurred and Paid date
parameters (claim basis). It is extremely important that employers
understand these terms and how they impact their overall Excess Loss
reimbursement.
Incurred and Paid (12/12)
- Incurred during the Policy Period and
- Paid during the Policy Period
Incurred and Paid with a three month run-in provision (15/12)
- Incurred during the Policy Period or within three months prior
to the beginning of the Policy Period and
- Paid during the Policy Period
Incurred and Paid with a six month run-in provision (18/12)
-
Incurred during the Policy Period or within six
months prior to the beginning of the Policy Period and
- Paid during the Policy Period
Incurred and Paid with a twelve month run-in provision (24/12)
-
Incurred during the Policy Period or within
twelve months prior to the beginning of the Policy Period and
- Paid during the Policy Period
Paid
-
Incurred during the Policy Period or within 12
months prior to the group’s original effective date with SLG
Benefits and
- Paid during the Policy Period
Incurred in the Policy Period and Paid in the
Policy Period plus three months (12/15)
- Incurred during the Policy Period and
- Paid during the Policy Period or within three months thereafter
Incurred in the Policy Period and Paid in the
Policy Period plus six months (12/18)
- Incurred during the Policy Period and
- Paid during the Policy Period or within six months thereafter
Incurred in the Policy Period and Paid in the
Policy Period plus three months (12/24)
- Incurred during the Policy Period and
- Paid during the Policy Period or within twelve months thereafter
|
