Schedule F on LAH statements

[HaydnP-GLIC]

Can you advise when a policy is placed on the Schedule F and should be taken off? Thanks

[KenJames]

A claim should be listed on Schedule F when a decision has been reached that the full amount of the claim is not legitimate.

The AS instructions say it should stay on Schedule F until "settled or dismissed by a competent court". So, until the legal obligation to pay has been eliminated either by agreement of the claimant or by ruling of a court.

[HaydnP-GLIC]

Thanks for your response...we do have a couple of other questions from our business areas, hope you can help.

1) If the Company files an interpleader action and pays the benefit dollars to the court due to a dispute concerning the rightful beneficiary, should that be placed on the schedule F?

2) Would returning premiums on a rescinded policy count as a compromise?

[KenJames]

Probably should consult your lawyers on these. My understanding is a claim stays on Sch F until the company's liability is extinguished.