When Coverage May Be Canceled Sample Clauses
The "When Coverage May Be Canceled" clause defines the specific circumstances under which an insurance policy or coverage can be terminated by either the insurer or the insured. This clause typically outlines the reasons for cancellation, such as non-payment of premiums, material misrepresentation, or changes in risk, and may specify required notice periods or procedures for cancellation. By clearly stating the grounds and process for ending coverage, this clause ensures both parties understand their rights and obligations, thereby reducing disputes and providing a predictable framework for policy termination.
When Coverage May Be Canceled. 1. An employee may cancel medical and/or dental coverage outside of open enrollment only in the case of certain life events that are consistent with the request to cancel coverage. The request to cancel coverage must be made within thirty (30) calendar days of the event. Life events include, but are not limited to: • loss of dependent status of a sole dependent; • death of a sole dependent; • divorce; • change in employment condition of an employee or spouse and • a significant change of insurance coverage for the employee’s spouse. Family medical or family dental coverage may also be canceled during the open enrollment period that applies to each type of plan for any reason. Cancellation will take effect on the first day of the following insurance contract year.
When Coverage May Be Canceled. 1. An employee may cancel medical and/or dental coverage outside of open enrollment only in the case of certain life events that are consistent with the request to cancel coverage. The request to cancel coverage must be made within thirty (30) calendar days of the event. Life events include, but are not limited to: • loss of dependent status of a sole dependent; • death of a sole dependent; • divorce; • change in employment condition of an employee or spouse or registered same sex Domestic Partner; and • a significant change of insurance coverage for the employee’s spouse or registered same sex Domestic Partner. Family medical or family dental coverage may also be canceled during the open enrollment period that applies to each type of plan for any reason. Cancellation will take effect on the first day of the following insurance contract year.
When Coverage May Be Canceled