jeffdcar
Expert
- 45
I have a client that paid annual for their Colonial Plan F. I will be switching them to a different carrier Plan F. Is it safe to say CP will have to refund the client for the months they will not be w/ CP?
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I have a client that paid annual for their Colonial Plan F. I will be switching them to a different carrier Plan F. Is it safe to say CP will have to refund the client for the months they will not be w/ CP?
I doubt it. The only carrier I know of that'll do a pro-rated refund is Gerber. Most people pay MBD anymore, so you don't run into it very often.
Won't they? I replaced a MoO policy where the client was paying quarterly and they refunded one months unused premium.
I have a client that paid annual for their Colonial Plan F. I will be switching them to a different carrier Plan F. Is it safe to say CP will have to refund the client for the months they will not be w/ CP?
The client is owed a refund for any amount paid beyond the termination of coverage date. It's not the carrier's decision.
The termination of coverage date would be the date that it's paid to. So, if it's paid to 01/01/2016 isn't that the termination of coverage date?