Life Insurance Solicitation - Q A 1.pdf

AMERICAN EMBASSY NICOSIA

LOCALLY EMPLOYEED STAFF

LIFE INSURANCE SERVICES

SOLICITATION NO. S-CY600-12-Q-0002

QUESTIONS AND ANSWERS NO. 1

The following questions have been asked regarding this solicitation:

1. Is the level of incapacity limited to the percentages listed in C.2.1.3?

Yes, the levels of incapacity are those listed in C.2.1.3.

2. What is the claim experience for the last five years?

There were no claims made in the last five years.

3. For any new employees entering in the scheme can the contractor ask for medical evidence?

No, medical evidence will not be provided for existing or new employees entering the scheme.

4. Who is the current contractor and for how long have they had the contract?

The current contractor is Laiki CypriaLife and have been for the last five years.

5. Are dependents covered?

No, dependents are not covered.

6. What do you mean by Administrative Retention Amounts - B.7 (page 5)?

The Administrative Retention Amount is a fixed amount that is part of the premium and may include, such costs as overhead, general and administrative costs and profit. It includes call costs except the actual portion of the premium intended to fund claims paid to the claimant. The Retention Amount will be used when an economic price adjustment is requested as indicated in Section B.8.

Section B.7.2. shall be completed indicating the retention amount per separate premium paid per employee, for each category of premium and for each period of performance.