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What is a Benefit Period versus a Contract Year provision in the policy?

April 26, 2017benefit contract period policy versus year

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What is a Benefit Period versus a Contract Year provision in the policy?

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A benefit period is the period of time that medical expenses will be considered under the policy following the date of an accident or commencement of a sickness typically 52 weeks. A policy with a contract year will pay expenses on a covered condition only while coverage is in-force.