Process Change – Backdating of Cover

From time to time we are asked to backdate a start date or a benefit structure change. This can be for a number of valid reasons however when we do this there are conditions that apply.

The insurers we deal with will ask for a declaration that there have been no claims during the period and will advise that no claims during this period will be admitted. The result of this is that the client is paying a month’s premium for a benefit that will not be paid.

We also sometimes receive a request for a change but then no signed document, confirming the change, is forthcoming. In instances like these we are unable to implement the change without the relevant authorisation and subsequently the above situation arises again, where there is no cover but premiums are due.

Going forward we will be implementing new schemes and structure changes from a future date only. Backdating to the 1st of the current month will only be considered if the relevant information is provided timeously and will be subject to the insurer’s approval.

Thank you and regards,
The TSA Team

You’ll find all back issues of TSA Connect by visiting our blog.

All information provided is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.

(Vol 7. Issue 6)

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