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Claims
Claims
Prior to buying the bond, FairSplit will verify and confirm that the following requirements to qualify for FairSplit Prepaid insurance benefits are met.
This passage details the procedure for customers of insurance bond to file a claim on our website. Customers must affirm their authorization to make the claim, ensure their employer is a registered US business, and confirm there are no pre-existing conditions or imminent terminations which might lead to a claim.
To qualify for coverage under this Severance Bond, a Severance Event must involve only active participating employees and occur more than one year after the bond's effective date, with the employee having worked as a W-2 employee for over a year. Termination for cause, as defined in the employee's contract, or events before these conditions disqualify a claim. The Principal must adhere to local, state, and federal employment laws for severance payments and their tax implications. The severance amount is calculated based on the employee's current weekly salary (multiplied by the severance weeks set by the Principal) and compared to the Principal’s Claim Funding Account, with the lesser amount being transferred for payment.
BOND PERIOD:
This bond renews monthly and finally terminates upon a severance event exhausting the Claims Funding Account, the Claims Funding Account reaching a zero balance, or the date the Principal requests cancellation of this blanket bond.
Utilizing our AI-driven system, filing a claim becomes a breeze with just one click. Respond to three straightforward questions, and we'll formulate a custom claim just for you. You'll gain clarity on your policy's protections and enjoy quick claim payments. Our dynamic, fast-responding, and easy-to-use system demystifies the claim process, offering a stress-free experience. With us, lodging a claim is as simple as one click.
Lastly, customers must ensure they're unaware of any delayed prepaid insurance package payments or issues of non-sufficient funds with the employer's bank in the past 12 months. If the inquiry includes HR manager's information, a copy of the HR management agreement can be provided to the insurer if needed.
Prior to buying the insurance, FairSplit will verify and confirm that the following requirements to qualify for FairSplit insurance are met
To qualify for coverage under this Severance Bond, a Severance Event must involve only active participating employees and occur more than one year after the bond's effective date, with the employee having worked as a W-2 employee for over a year. Termination for cause, as defined in the employee's contract, or events before these conditions disqualify a claim. The Principal must adhere to local, state, and federal employment laws for severance payments and their tax implications. The severance amount is calculated based on the employee's current weekly salary (multiplied by the severance weeks set by the Principal) and compared to the Principal’s Claim Funding Account, with the lesser amount being transferred for payment.
BOND PERIOD:
This bond renews monthly and finally terminates upon a severance event exhausting the Claims Funding Account, the Claims Funding Account reaching a zero balance, or the date the Principal requests cancellation of this blanket bond.
Utilizing our AI-driven system, filing a claim becomes a breeze with just one click. Respond to three straightforward questions, and we'll formulate a custom claim just for you. You'll gain clarity on your policy's protections and enjoy quick claim payments. Our dynamic, fast-responding, and easy-to-use system demystifies the claim process, offering a stress-free experience. With us, lodging a claim is as simple as one click.
Prior to buying the bond, FairSplit will verify and confirm that the following requirements to qualify for FairSplit Prepaid insurance benefits are met.
This passage details the procedure for customers of insurance bond to file a claim on our website. Customers must affirm their authorization to make the claim, ensure their employer is a registered US business, and confirm there are no pre-existing conditions or imminent terminations which might lead to a claim.
To qualify for coverage under this Severance Bond, a Severance Event must involve only active participating employees and occur more than one year after the bond's effective date, with the employee having worked as a W-2 employee for over a year. Termination for cause, as defined in the employee's contract, or events before these conditions disqualify a claim. The Principal must adhere to local, state, and federal employment laws for severance payments and their tax implications. The severance amount is calculated based on the employee's current weekly salary (multiplied by the severance weeks set by the Principal) and compared to the Principal’s Claim Funding Account, with the lesser amount being transferred for payment.
BOND PERIOD:
This bond renews monthly and finally terminates upon a severance event exhausting the Claims Funding Account, the Claims Funding Account reaching a zero balance, or the date the Principal requests cancellation of this blanket bond.
Utilizing our AI-driven system, filing a claim becomes a breeze with just one click. Respond to three straightforward questions, and we'll formulate a custom claim just for you. You'll gain clarity on your policy's protections and enjoy quick claim payments. Our dynamic, fast-responding, and easy-to-use system demystifies the claim process, offering a stress-free experience. With us, lodging a claim is as simple as one click.
Lastly, customers must ensure they're unaware of any delayed prepaid insurance package payments or issues of non-sufficient funds with the employer's bank in the past 12 months. If the inquiry includes HR manager's information, a copy of the HR management agreement can be provided to the insurer if needed.