<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by ozstamps:
It's actually PER YEAR.
However as you point out, amending website wording to bring it into line with "$7,500 total payout each year you keep financial in the plan" [or whatever] might clarify things greatly?
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Yes, I would be thrilled with that change. Since it currently says:
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. You must keep your membership active in order to make claims against your banked miles and/or points.
it would also be a change in the program rules.
Anyway, his word alone is good enough for myself and Joh, and we have just signed up.
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As I've said before, that's a choice you are free to make. Me, I'll take the legally binding terms of the program, as posted and as agreed to when registered, over bits on an internet site.
Bottom Line - The program web site and legal terms of the program say $7,500 aggregate, one-time, fixed lifetime total for all progams that go out of business in a year, and you must maintain your membership every year to use that aggregate total. Randy has posted that you can get $7,500 per year.
If we can all agree that those are the facts, can we stop beating it to death and leave it to individual interpretations/risk profiles/trust? Hmmm?