Client Murdered Before Policy Date

[jdeasy]

This is certainly a very interesting and unfortunate case study.
My opinion is that the Daughter is going to come up short here since there was no prem pymt and the effective date is an advance date of the tragic event. I hope my instincts are wrong!

That's not what Americo says though. I agree on the probable outcome.

 

[houcoogster]

That's not what Americo says though. I agree on the probable outcome.

If they say that right on the app or policy then there is no ambiguity they should pay the claim. They are selling themselves as going above and beyond what the state requires, they should live up to it or remove the promise from the policy.

 

[TDFnCali]

So Americo delivered a policy to me that I wanted sent to the client. I have tried to call for the week or so but could not get him. I drive by today and the house is circled in police tape and the neighbor said he was murdered last Monday. A friend said he may have preliminary coverage but I don't think so. It sure would make things better for his daughter.

Did u ever find out the details of your clients death? An article, news report, anything? What city & state?

Sent via my Sprint Galaxy S4 using Insurance Forums

 

[TommyBwell]

Did u ever find out the details of your clients death? An article, news report, anything? What city & state?

The paper just said he was murdered and they have a suspect they are looking for. They did not release any other details or cause of death.

 

[houcoogster]

The paper just said he was murdered and they have a suspect they are looking for. They did not release any other details or cause of death.

Have you notified the bene yet.

 

[SportsNut]

If they say that right on the app or policy then there is no ambiguity they should pay the claim. They are selling themselves as going above and beyond what the state requires, they should live up to it or remove the promise from the policy.

It is situations like this one that will cause policy and procedural changes within a company.

Then what is the morals clause in the policy. Was insured involved in any illegal activity which precipitated the murder...?

Don't think that Americo isn't going to look at every angle.

 

[houcoogster]

It is situations like this one that will cause policy and procedural changes within a company.

Then what is the morals clause in the policy. Was insured involved in any illegal activity which precipitated the murder...?

Don't think that Americo isn't going to look at every angle.

I agree they should look into was he involved in the act of a felony and was the beneficiary involved in the murder. But if it all checks out ok they should pay the claim. We are innocent until proven guilty by a court of law not the other way around. Kinda hard for anybody let alone a dead man to prove his innocence.

 

[SportsNut]

We are innocent until proven guilty by a court of law not the other way around. Kinda hard for anybody let alone a dead man to prove his innocence.

This is a little too much 'House on the Prairie' for my take. Have you been invovled up close as to how this actually works? Maybe slightly different than what you depict. This is not about whether the individual is guilty or innocent in terms of the burden of proof to our constitution... this is all about the corp resolution and business practices of ONE insurance company and what they decide.

They are rats... [ins cos as a whole] have you ever seen a rat wiggle thru a tiny little hole the fraction of the size of their body mass? I think that [some] ins cos are escape artists just the same. Now I have no experience with the subject co, [Americo] but if I were the beneficiary I wouldn't count on seeing the claim funds here. Sorry that I am so cinical about the industry and their practices.

 

[rousemark]

It is situations like this one that will cause policy and procedural changes within a company.

Then what is the morals clause in the policy. Was insured involved in any illegal activity which precipitated the murder...?

Don't think that Americo isn't going to look at every angle.

There is no "morals" clause in a life policy other than for accidental death and wp riders..

 

[TommyBwell]

I called Americo this morning and though I had the policy they had sent a letter and the daughter found it and had already talked to them and has a claim in motion. They are sending me a questionnaire but the guy said it looks like they are going to pay it. I will update when I know more.