Contract Types

Our Stop Loss Contract has six (6) standard contract types for specific and aggregate coverage.

Incurred and Paid Basis Contracts

1. 12/12

• Incurred during the policy period AND

• Paid during the policy period

 

2. 12/15 (Note A)
   

   • Incurred during the policy period AND

   • Paid during the policy period or within three months thereafter

    

3. 12/18 (Note B)

• a. Incurred during the policy period AND

• Paid during the policy period or within six months thereafter

 

4. 15/12

• Incurred during the policy period or within three months prior to the beginning of the policy period AND

• Paid during the policy period

 

5. 18/12

• Incurred during the policy period or within six months prior to the beginning of the policy period AND

• Paid during the policy period

 

6. 24/12

• Incurred during the policy period or within twelve months prior to the beginning of the policy period AND

• Paid during the policy period

Notes
A. A 12/15 aggregate must be accompanied with a 12/15 specific.
B. A 12/18 aggregate must be accompanied with a 12/18 specific.