Backdating health insurance
There are policy definitional issues, state law issues and judicial interpretation issues, all of which call for expert legal guidance. If your health insurance plan is an HMO, or health maintenance organization, you probably know that your primary care physician coordinates your health care services.Referrals for oncology, rheumatology and renal management are issued for one year.
In that circumstance, premium due dates are ordinarily computed from the date of issue, while contestable and suicide periods run form the effective date.And to make it more befuddling, insurance companies each have their own definitions of those terms in their policies which they are supposed to follow.The three terms are issue date, policy date and effective date.The is important because so many time periods under the policy start with it: The suicide and contestable periods, due dates of renewal premiums, expiration date of grace periods, availability and amount of nonforfeiture values and the duration of any extended term insurance.The is significant because it is the date on which the insurance company becomes liable under the contract.
This allows time for the policy to be delivered to the insured.