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I just received my first policy from GR for a client. I am looking for the free look time-frame. Does someone know where I can find it in the policy?
free look info on the policy?
- Thread starter trvlnut
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- #3
- 102
Big and Bold?
Not here. I am looking at the front page, where it states, "Agreement and Consideration." Can't see it anywhere. Gotta tell ya, I have read it 3 times.
Not here. I am looking at the front page, where it states, "Agreement and Consideration." Can't see it anywhere. Gotta tell ya, I have read it 3 times.
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- #5
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Thanks Somarco. There is no mention of the free look period on mine. It states that if the first month's premium isn't paid then the policy is void. Since they sent a check in for the first months premium, I guess it isn't void.
I'll call GR tomorrow.
Thanks all.
I'll call GR tomorrow.
Thanks all.
According to this site, MOST policies have a free look. This may not be a requirement, and may not include all policies.
I find that unusual . . .
http://216.239.51.104/search?q=cach...k+insurance+policies&hl=en&ct=clnk&cd=2&gl=us
Most individual health insurance policies have a “free look”
period, generally from 10 to 30 days, during which they can
be returned for a full refund if you are not satisfied. After that
period you most likely will not be able to get a refund.
I find that unusual . . .
http://216.239.51.104/search?q=cach...k+insurance+policies&hl=en&ct=clnk&cd=2&gl=us
Most individual health insurance policies have a “free look”
period, generally from 10 to 30 days, during which they can
be returned for a full refund if you are not satisfied. After that
period you most likely will not be able to get a refund.
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- #8
- 102
I think I am being ethical. I didn't know she was on meds for HC before she submitted the app. She also has HBP so they put a couple of riders on the policy. The free look is there for her to have a choice whether she wants to accept the policy that includes riders. Why should she have to accept the riders if it's perfectly legal for her to cancel the policy?
I am looking at other carriers to see if they will up-rate her instead. She also qualifies for a portability plan.
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My comment wasn't directed at you regarding your business ethics. It was directed at the forum. I'm aware of what the free look period is for and still maintain my position. In essence, that is used to make consumers feel warm and fuzzy and also protect insurance companies from future liability, as well as brokers who did not fully divulge certain facts because he or she can say, "they had X number of days to read the policy and then accept the policy based on the insurance companies requirements."
Are you explaining to your clients how the claims review process works?
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I agree, however, not all agents are as diligent about informing prospects regarding the meaning of all of the "fine print" in a policy. If they were all as responsible as you and others here, agents wouldn't have the "bad name" that is conjured up when one hears, "he's an insurance agent".
What is it that "they" say? "Everyone is BS'ing except you and me and sometimes I'm not too sure about you". hahaha
If I'm not mistaken, it is dictated by the Missouri Dept of Insurance that there must be a 30 day "free look" on all insurance policies.
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