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General Information The policy form is an individual supplemental accident expense product that provides benefits only in the case of accidents. Benefits are included for accidental injury, accidental death, accidental dismemberment, and accident-related hospital and ambulance expenses.
Renewability Coverage is guaranteed renewable for life. Subject to the company’s right to change premiums.
Issue Ages and Premium Ages § In computing premiums, the Company uses “Age Last Birthday” on these policy forms. The two-parent family premium is based on the older age for bank draft sales and the employee’s age for payroll sales. No adult over age 84 is eligible for coverage. § Policy Form AK7024, and AK7025 is issued from age 18 to 84. Rates are tiered at: § Individual only n Individual plus Spouse § Individual plus child n Family § Individual Child vs. Family Rates § Individual/Child Rate only applicable for single parent with up to 1 child. Additional children (2+) would constitute a family rate. Group Eligibility • To be eligible a group must have been in business at least one year and be in sound financial standing. • To be eligible, an employee must be actively-at-work for at least 27 hours per week, employed a minimum of 6 months at the employer’s usual place of business. • A minimum participation of 3 eligible lives is required for group billing. • Coverage may not be backdated. • On payroll deduction business, you must submit a Premium Payment Agreement form (AIA0001). A true employer/employee relationship as outlined in this form must exist. • For ManhattanLife to accommodate an employer and bill them as they instruct, we must have received all necessary material in the Home Office 14 days prior to the group effective date.
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