Question: What should I expect once I have submitted a Meridian application?
Answer: Once the application is submitted or received in our offices, the next business day begins a 4 day time frame for underwriting review. Within this time frame our underwriters will have reviewed the application and responded via email (to both the client and the producer) with the results. Either the application will have been approved and accepted or the underwriter will need further information from the client in the form of a response to a need for more medical information, a signed rider excluding some portion of coverage either time-delimited or permanent or with an indication that the client is eligible for a different Meridian Plan. In the majority of situations, please know that riders will apply for existing conditions on the Meridian Enhanced Plan, as the overall plan maximum applies for existing conditions after the rider has elapsed. Less often, riders will be offered upon the Meridian Essential and Clear plans, as 24 month waiting periods apply for existing conditions at the plans inception. Less frequently, a rate up for lifestyle or height/weight ratio may also be offered.
Question: Can anyone pay for Azimuth Risk Solutions Plans?
Answer: Yes, almost anyone may pay the premium for the plans and bear this in mind that should there be any refunds due for any of these plans, refunded premium will be returned to the paying entity. Azimuth will not allow the producer to pay for the client’s premium.
No matter who pays the insured “owns” the policy. The payer can stop paying but only the insured or the insurance company can cancel the policy. The insured has the option of paying for the policy themselves.
Question: Is there a free look for the client?
Answer: Yes, you may request a full refund within 7 days after receiving their plan fulfillment.
Question: Can the Meridian Plan be canceled?
Answer: Yes, the Meridian Plan may be canceled at anytime, but there is a Short Rate Cancellation Fee imposed upon the unearned premium amount and any refund will have this amount deducted from the reimbursed amount. It is also important to know that in the event that the Short Rate charge is more than premium already paid (typically only for those paying monthly) the credit card on file will be debited for any money due. The Short Rate table charges are located on the first page of the Lloyd’s, London Certificate jacket which contains the client’s plan wording.
Question: What is the Short Rate Cancellation table and how does it apply?
Answer: It is a sliding scale of the cancellation fee imposed in the event you terminate your plan early. It equates to roughly 10% or so of the total unearned premium amount. So, as example, if you have a $1200 annual premium who cancels early in the first month, the short rate charge will be approximately $120 and $1,080 would be returned. If you cancel late in the last month, the charge would be about $12. Know also that this is calculated on the entire anticipated premium, so those who pay monthly would have a much higher short rate fee than those who pay annually as a result of the modal factor involved with monthly payments.
Question: Are newborn children automatically accepted on their covered parent’s Meridian plan?
Answer: Newborns are not automatically accepted and do have to be individually underwritten.
Question: How do apply for my newborn?
Answer: An application (general application) for a baby at least 14 days old along with the hospital medical records from the delivery will need to be submitted. The application will only have the newborn’s information. Please put on the top of the first page of the application the parent’s names as well as ‘request to add baby on to our policy.’
If accepted your baby will have the same policy benefits stated in your policy.
Question: Can a client change Meridian Plans once they have enrolled?
Answer: Unfortunately no. The Meridian Series choice may not be modified after acceptance on the plan.
Question: What happens if the client applies for coverage after age 64?
Answer: If accepted, the client will be able to renew, but only until their 75th birthday, at which point they become automatically ineligible. If they are accepted on the plan prior to their 65th birthday, they may renew indefinitely, so long as they continue to pay the premium.
Question: What is involved with reinstatement? Is reinstatement guaranteed?
Answer: Reinstatement is not guaranteed and at the discretion of Azimuth Risk Solutions. In the event there is a need for reinstatement, all back premiums submitted along with a new application and a written request for reinstatement is necessary for consideration. A written statement regarding the reason for the plan lapse and/or a full description of any diagnoses, treatment, etc. which has taken place since the client’s effective date of insurance may also be requested.
Question: What happens if a member elects to cancel their plan while their spouse and dependents want to maintain the plan?
Answer: The canceling member would be subject to the Short Rate Cancellation table, just as in any other circumstance; however, if there are children on the plan who had been free the additional pro-rated premium for these dependents would be deducted from any refund.
Question: If you do not like your renewal rates, is it okay if you just cancel the plan and apply for a new one?
Answer: Unfortunately no. There is a 12 month waiting period before you will be eligible to reapply.
Question: What happens if an employer pays for the plan? Can I still keep it if I get terminated from their job?
Answer: Yes, so long as you continue to pay the premium. However, if the plan is canceled, know that the unearned premium will be returned to whoever paid the premium at the outset.
Question: Can I pay premium installments with a check?
Answer: If you pay annually, you will be able to pay your premium via check, money order, wire transfer or credit card. Quarterly, semi-annual or monthly payments can only be made with a valid credit card on file.
Question: If you have a daughter who is 18 and will be attending college. Can she stay on her mother and father’s Meridian plan?
Answer: Yes, if they are a full-time student and living outside the U.S. for at least 6 months of the year.
Question: Can the maternity rider be added at renewal time for the Meridian Essential?
Answer: Yes, the maternity rider may be added to your policy at the time of renewal as long as you are not currently pregnant.
Question: I want to buy a Meridian Plan and want to add my wife and child later. Can I do so?
Answer: Yes, as long as you submit an application and are approved by underwriting, the effective date will reflect the different premiums for each member. And the renewal forms will be sent out 60 days prior to effective dates, which will not be the same for a wife and child. Possible option: let the client pay the back premium to have the whole family on the same premium/renewal date.
Question: Can the premium for the Meridian Plan be paid with more than one credit card?
Answer: Yes, multiple charges are allowed.
Question: If I purchase a plan without US and Canadian coverage, can I get coverage there later?
Answer: At renewal time, you if you have US/Canadian coverage, you can elect to delete it the following year, however if you do not have US/Canadian coverage at the outset of your plan, you have to apply and go through underwriting to add U.S. coverage later. If there are new medical conditions, they could be excluded.
Question: I reside in another country and have a local plan with relatively low overall maximum limits. Will the expenses covered by the local plan apply to the Meridian deductible and will the Meridian Plan cover those expenses in excess of the local plan?
Answer: Generally no. If you encounter this situation, please contact the Azimuth Marketing Department and we may be able to help.
Question: I am a Canadian living in Canada. I want to purchase a plan which will allow me to avoid the long waiting lists which accompany my Provincial Health Plan. I want to know if I have to first go through the social medical system before using a Meridian Plan if I purchase it.
Answer: Azimuth Risk Solutions clients are never required to first seek or exhaust their local medical plans, whether public or private, before utilizing the benefits of the Meridian Plan. It is important to understand that the Meridian Plan is secondary to any existing plan, which means simply that if any other plan would pay for the services delivered to the client, that plan must pay first. If there is no other plan which would pay first, then the Meridian Plan would pay allowed amounts for any eligible charges.