Outline of Coverage

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Outline of Coverage A statement that the outline of coverage is a summary of the policy issued or applied for and that the policy should be consulted to determine governing contractual provisions. It is separate booklet that you received when you applied and which is available upon request; it is part of the policy, lists the covered amounts, Medicare coinsurance and Medicare deductible, and contains other important customer information. Insurance companies usually provide policyholders with an outline of coverage that summarizes the benefits provided. This document help you make an informed choice, some jurisdictions require an Outline of Coverage (OOC) document. An Outline of Coverage provides a brief description of the important features of your plan. An outline of coverage must be delivered to a prospective applicant for a long-term care insurance contract or certificate at the time of initial solicitation through means that prominently direct the attention of the recipient to the document and its purpose. You should compare your outline of coverage to other outlines of coverage for other contracts available to you. Remember this is not a contract of insurance, but only a summary of coverage. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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