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Once the completed application is
received by Kuffel, Collimore, & Co. and submitted to SRI,
SRI underwriters will evaluate the application and
determine if coverage is to be issued. If additional
medical or personal information is required, SRI will
contact Kuffel, Collimore, & Co. to obtain the
information. Applicants for The Lifeboat Medical Insurance
Plan who are in good health and have no relevant medical
conditions will be accepted at the stated premium. If the
applicant discloses a pre-existing medical condition on
the application, the SRI underwriters will review the
application and medical information submitted to determine
if the applicant is to be accepted. If the applicant is
accepted, the pre-existing condition may either be covered
from the effective date as any other illness or the
underwriters may attach an "Exclusionary Rider."
("Exclusionary Rider" means the applicant will be accepted
but claims for the particular pre-existing medical
condition will be excluded from coverage.) SRI
underwriters may also accept applicants who have
experienced moderate health conditions in the past with an
increase to the stated premium. In some circumstances, the
SRI underwriters will not be able to offer coverage to
applicants. In this case, SRI will forward documentation
notifying the applicant that coverage will not be offered.
An additional premium may be charged for tobacco use.
If the applicant does not disclose or misstates the
pre-existing condition on the application, and SRI
uncovers the pre-existing condition, SRI will reserve the
right to either void the entire insurance contract and
refund all premium received or refuse to pay that
particular claim.
SRI strives to underwrite all applications quickly and
efficiently. Information on the application that is not
legible will delay underwriting. Requests for additional
information and documentation will require more
underwriting time. |
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