Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Yes. You can terminate the coverage by calling the carrier/sending in a letter requesting the termination of your health insurance plan.
The carrier can also terminate your coverage, but only in certain situations such as you not paying your premiums (the policy would lapse) or if it's discovered you intentionally lied on the application for the coverage (fraud).
A policy is a contract - you agree to pay a certain premium amount in exchange for coverage so when a situation occurs that is covered by the plan, the insurance company pays their portion of the claim up to the specified amounts in the policy and any remainder would be billed to you, if applicable.Please let me know if I can be of further assistance. Thanks very much.
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The carrier can also terminate your coverage, but only in certain situations such as you not paying your premiums (the policy would lapse) or if it's discovered you intentionally lied on the application for the coverage (fraud).
A policy is a contract - you agree to pay a certain premium amount in exchange for coverage so when a situation occurs that is covered by the plan, the insurance company pays their portion of the claim up to the specified amounts in the policy and any remainder would be billed to you, if applicable.Please let me know if I can be of further assistance. Thanks very much.