Insurance Premium Refund Agreement - New Hampshire

Insurance Premium Refund Agreement is a legal document that was released by the New Hampshire Department of Health and Human Services - a government authority operating within New Hampshire.

FAQ

Q: What is an Insurance Premium Refund Agreement?
A: An Insurance Premium Refund Agreement is a contract between an insurance company and a policyholder in New Hampshire.

Q: What is the purpose of an Insurance Premium Refund Agreement?
A: The purpose of an Insurance Premium Refund Agreement is to outline the terms and conditions under which a policyholder may be entitled to a refund of their insurance premium.

Q: When can a policyholder be eligible for a refund of their insurance premium?
A: A policyholder may be eligible for a refund of their insurance premium if they cancel their insurance policy before the end of the policy term or if there is an overpayment on their premium.

Q: How is the refund amount determined?
A: The refund amount is usually determined based on a pro-rata basis, which means it is calculated proportionally to the amount of unused coverage remaining.

Q: Are there any fees or penalties associated with canceling an insurance policy?
A: There may be fees or penalties associated with canceling an insurance policy, such as a cancellation fee or a short-rate penalty. These fees and penalties should be outlined in the Insurance Premium Refund Agreement.

Q: What should a policyholder do if they believe they are entitled to a refund?
A: If a policyholder believes they are entitled to a refund, they should contact their insurance company and review the terms of their Insurance Premium Refund Agreement to understand the refund process.

Q: Can an Insurance Premium Refund Agreement be negotiated?
A: In most cases, an Insurance Premium Refund Agreement is a standard contract provided by the insurance company and is not negotiable. However, policyholders may have the option to select different coverage options or policy terms that can affect the premium refund amount.

Q: Is an Insurance Premium Refund Agreement specific to New Hampshire?
A: Yes, an Insurance Premium Refund Agreement is specific to New Hampshire as it is governed by the state's insurance laws and regulations.

Q: What other provisions may be included in an Insurance Premium Refund Agreement?
A: Other provisions that may be included in an Insurance Premium Refund Agreement include cancellation procedures, refund timelines, and any additional conditions for eligibility for a refund.