Examples of Grandfathered policies in a sentence
Further, the statement will include breakdown of all delinquent financial balances owed to said chapter.
Some actuaries point out that a strict application of this definition would imply that Grandfathered Policies would continue to be Non-Covered Policies if the reinsurance structure under which they had been ceded as of Dec.
They are capitalized there and in most references in the actuarial literature and will, accordingly, be capitalized in this section: Covered Policies, Grandfathered Policies, and Non-Covered Policies, defined in Question 25; Primary Security and Other Security, defined in Question 26; and Required Level of Primary Security and Actuarial Method, defined in Question 27.
Non-Covered Policies: Any policy that does not meet the definition of Covered Policies, including Grandfathered Policies.
Grandfathered Policies: Policies of the types described in Subsections B1 and B2 above that were (1) issued prior to January 1, 2015 and (2) ceded, as of December 31, 2014, as part of a reinsurance treaty that would not have met one of the exemptions set forth in Section 4 had that section then been in effect.