When Coverage May Be Canceled Sample Clauses

The "When Coverage May Be Canceled" clause defines the specific circumstances under which an insurance policy or coverage can be terminated by either the insurer or the insured. This clause typically outlines the reasons for cancellation, such as non-payment of premiums, material misrepresentation, or changes in risk, and may specify required notice periods or procedures for cancellation. By clearly stating the grounds and process for ending coverage, this clause ensures both parties understand their rights and obligations, thereby reducing disputes and providing a predictable framework for policy termination.
When Coverage May Be Canceled. 1. An employee may cancel medical and/or dental coverage outside of open enrollment only in the case of certain life events that are consistent with the request to cancel coverage. The request to cancel coverage must be made within thirty (30) calendar days of the event. Life events include, but are not limited to: • loss of dependent status of a sole dependent; • death of a sole dependent; • divorce; • change in employment condition of an employee or spouse and • a significant change of insurance coverage for the employee’s spouse. Family medical or family dental coverage may also be canceled during the open enrollment period that applies to each type of plan for any reason. Cancellation will take effect on the first day of the following insurance contract year.
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When Coverage May Be Canceled. 1. An employee may cancel medical and/or dental coverage outside of open enrollment only in the case of certain life events that are consistent with the request to cancel coverage. The request to cancel coverage must be made within thirty (30) calendar days of the event. Life events include, but are not limited to: • loss of dependent status of a sole dependent; • death of a sole dependent; • divorce; • change in employment condition of an employee or spouse or registered same sex Domestic Partner; and • a significant change of insurance coverage for the employee’s spouse or registered same sex Domestic Partner. Family medical or family dental coverage may also be canceled during the open enrollment period that applies to each type of plan for any reason. Cancellation will take effect on the first day of the following insurance contract year.
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When Coverage May Be Canceled 
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Related to When Coverage May Be Canceled

  • When Coverage May Be Chosen All employees must make their choice of employee medical and dental plans and choice of family coverage (if applicable) within thirty (30) calendar days of the date of initial employment in an insurance eligible position. The employee will automatically be enrolled in the basic life insurance coverage. Employees who become eligible for a full employer contribution must make their choice of employee or family medical and/or dental coverage within thirty (30) calendar days of becoming eligible. Employees who do not make an election within this period will have no coverage, and may not elect coverage until the next open enrollment period. An employee may change their medical or dental plan during the year if the employee changes to a new permanent residence or work location, and as a result of this change, the employee’s current plan is no longer available. When an employee receives notification of a work location change between the end of an open enrollment period and the beginning of the next insurance year, the employee may change their medical or dental plan within thirty (30) days of the date of the relocation under the same provisions accorded during the last open enrollment period. An employee or a retired employee, may also add dependent medical or dental coverage following the birth of a child or dependent grandchild, or following the adoption of a child without regard to the 30 day enrollment period. In addition, an employee or a retired employee may add family health or dental coverage within thirty (30) days of the following event: 1. If an employee or retiree becomes married, the employee or the retiree may add their spouse and any dependent children/grandchildren. 2. If the employee's spouse loses group medical or dental coverage, the employee may add their spouse and any dependent children/ grandchildren. 3. If the retiree’s spouse involuntarily loses group medical or dental coverage, the retiree may add their spouse and any dependent children/grandchildren.

  • Payments May Be Paid Prior to Dissolution Nothing contained in this Article Ten or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Sections 10.02 and 10.03, from making payments at any time for the purpose of making payments of principal of and interest on the Notes, or from depositing with the Trustee any moneys for such payments, or (ii) in the absence of actual knowledge by the Trustee that a given payment would be prohibited by Section 10.02 or 10.03, the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of, and interest on, the Notes to the Holders entitled thereto unless at least two Business Days prior to the date upon which such payment would otherwise become due and payable a Trust Officer shall have actually received the written notice provided for in the third sentence of Section 10.02(a) or in Section 10.07 (provided that, notwithstanding the foregoing, such application shall otherwise be subject to the provisions of the first sentence of Section 10.02(a), 10.02(b) and Section 10.03

  • Who May be Deemed Owners Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary.

  • When De Minimis Adjustment May Be Deferred No adjustment in the Exercise Price need be made unless the adjustment would require an increase or decrease of at least 1% in the Exercise Price. Any adjustments that are not made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section 5 shall be made to the nearest 1/100th of a share.

  • When Adjustment May Be Deferred No adjustment in the Conversion Rate need be made unless the adjustment would require an increase or decrease of at least 1% in the Conversion Rate. Any adjustments that are not made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Article 11 shall be made to the nearest cent or to the nearest 1/1,000th of a share, as the case may be.