Claim Not Paid News Story.

[WinoBlues]

The policy was issued in February 2015 and the insured was killed in June 2015. Aetna had the claim processed in a few weeks, but told me that they could not release the check because of the fact the case was still open with the police department. I was told in Florida you cannot release funds in this type of situation until the case is closed. The man who broke into the home was claiming self defense. The company stayed in touch with me and in August I got a call saying the check was on its way because the case was closed. The intruder had been murdered too. I called the wife and told her to expect a check and asked her if she knew what happened. She told me she knew who killed the intruder and was glad the matter was solved. I got the impression it was a family member.

Cincinnati Life had a right to contest the claim, but in a situation where the insured is murdered I think they should have paid as a gesture of good faith. They probably would have received more than $25,000 in return from people who now would do business with them because of their actions. I do not think they will sell many policies until this case is forgotten.

Look up any company and you will most likely find similar cases. The client that sent this to me bought a $1,000,000 ROP term plan, Plus I have one on his dad as well. So I understand his concern. I know he also deals with AAA. If he Googles "AAA does not pay life insurance claim" or something similar he will find the same. To many unknowns in this story for me to have an opinion. Are the medical records at Children's for a cold or Cancer?

That is great that Atnea paid the claim. I always expect the companies to pay. If I did my end well and the client was truthful it seems to me most claims would be paid.

 

[ins 4 LOWE cost]

Look up any company and you will most likely find similar cases. The client that sent this to me bought a $1,000,000 ROP term plan, Plus I have one on his dad as well. So I understand his concern. I know he also deals with AAA. If he Googles "AAA does not pay life insurance claim" or something similar he will find the same. To many unknowns in this story for me to have an opinion. Are the medical records at Children's for a cold or Cancer?

That is great that Atnea paid the claim. I always expect the companies to pay. If I did my end well and the client was truthful it seems to me most claims would be paid.

Good post winoblues, I was terrible in my early years in writing business and my small minded thinking made me think I was helping customers by covering things up, but realized later I was hurting them. I'm fortunate to still have my license because I deserved to lose it. Poor article but great learning experience. This forum is pretty cool. Look forward to reading more. - Rus

 

[WinoBlues]

Good post winoblues, I was terrible in my early years in writing business and my small minded thinking made me think I was helping customers by covering things up, but realized later I was hurting them. I'm fortunate to still have my license because I deserved to lose it. Poor article but great learning experience. This forum is pretty cool. Look forward to reading more. - Rus

Very few people would admit that. Too easy to justify anything.
I would have been in the unemployment line right behind you.

Lee

 

[sirherbie]

I have a couple of examples of field underwriting yesterday . A lady was taking several heart medications for a heart attack from 7 yrs ago. Combine that with Lasix and I grilled her hard on chf. She denied she had it. I write all medicines on the app and explain them. I make all clients sign a disclosure I have saying I asked them all questions and they read the app and agree all questions are answered correctly . Ran into a 55 yr old that just had gastric by pass. He said he was 5-9 300. I knew he was closer to 400. 4 choices with no ht/wt . Aetna,Trans,Rna or Cigna.

 

[shonceman]

This case reminds me of a claim I had when I was a young debit agent. My client's 16 year old son had been gunned down. She had an old $3,000 whole life policy on him with double indemnity for adb, and a $5,000 adb policy. So I told her she'd be getting $11,000. The company promptly paid the 3k but withheld all the adb pending the outcome of the police investigation. That case made the news, too. They never paid the adb because it turned out the kid was killed in the middle of a drug deal gone bad, so the criminal activity exclusion on the adb was the basis for denying the claim. The company said, though, that they would have paid it anyway if the bullets hadn't been flying in both directions! I'm not saying that this young lady was involved in criminal activity. But like Wino said, sometimes the news leaves out important details.