<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by ozstamps:
I agree the terms on the website are not clear at all about whether it is $7500 of air travel covered per year you remain paid up in the plan, or $7500 one time only. Randy clearly says it is per YEAR that is covered, and that is good enough for me.</font>
I must disagree, ozstamps. The terms of the AwardGuard site clearly indicate that it is a $7,500
aggregate liability, not a $7,500
annual liability.
From the
program overview:
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Claims for all programs which cease operation during the same membership year will be applied towards one $7,500 aggregate award liability. The required documentation must be validated before any claims can be made.
...
Members can continue to redeem miles/points towards the aggregate award liability as long as their membership is kept active. Any lapse in membership will void any miles on account. Redemption of miles/points claimed during a membership year will be discontinued once AwardGuard has expended $7,500 in replacement tickets or the members miles/points for that program have been exhausted, whichever comes first.</font>
From the
AwardGuard FAQ's:
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Q: Are there any limits to my AwardGuard protection?
A: AwardGuard maintains a one-time $7,500 award liability if one or more programs go completely out of business in a given membership year. This means that when a covered program goes completely out of business, we can purchase up to $7,500 of award replacements. ... This $7,500 is a fixed-limit liability and cannot be exceeded, regardless of the number of years that an AwardGuard account is maintained or the number of programs that go out of business in a given membership year. The coverage will expire when you have used up all your miles and/or points, or we have spent $7,500 in replacement value, whichever comes first.</font>
In some posts here on FT, Randy had said it was an annual liability. When he was then questioned about the discrepancy between his statement and the terms on AwardGuard's site (both in this thread, and in a chat transcript mentioned above), he dodged the question. In any case, I don't see how some contradictory posts here on FT could take precedence over the terms and conditions on the AwardGuard site.