Disability Waiver

Nov 2, 2016

Tags:
  1. jdavis7765
    Offline

    jdavis7765 New Member

    Posts:
    3
    Likes Received:
    0
    Hey everyone, new patron to your wonderful forum and of course I have a life insurance question I need assistance with. I realize there are probably many answers that vary among companies so I will try to keep it short and sweet. Long story short, my mom passed away earlier this month and we didn't think she had life insurance, but turns out she did from a document I found from 98. The cash value paid the premiums up until a 3 months ago. Another story for later, but my dad took out that policy and he also had a policy, his policies address was updated but the one he had for my mom was not, so he ended up cashing his in years ago, but forgot about my moms and we had no idea it existed or was even canceled. Anyway, she had been disabled for about 3 years prior to her death and from what I've read the disability waiver would have paid the premiums had the insurance company been notified, which they obviously were not.

    My question is, what do you think the chances of them covering this on either ground, the policy not being changed when the policy holder updated the address or the disability waiver if we can prove from her disability paperwork she had been disabled when they cancelled? We were told to send a written letter about the address and the fact we were not notified of its cancelation to them to determine.

    The short story turned long, I hope you could follow and thanks in advance for any insight or answers provided.
     
  2. DHK
    Offline

    DHK "YOU CAN'T HANDLE THE TRUTH!"

    Posts:
    7,843
    Likes Received:
    1,660
    State:
    California
    Disability waivers are usually only up to a certain age, like 60.

    How old was she when she passed and how old was she when she became disabled?
     
    DHK, Nov 2, 2016
    #2
  3. jdavis7765
    Offline

    jdavis7765 New Member

    Posts:
    3
    Likes Received:
    0
    She was 63, I believe when she passed, so maybe around 59 to 61 when she became disabled. I am not 100 percent sure on the disability date, but would have to find that info out.

    The original policy states,
     
  4. DHK
    Offline

    DHK "YOU CAN'T HANDLE THE TRUTH!"

    Posts:
    7,843
    Likes Received:
    1,660
    State:
    California
    In order for the insurance company to consider the payment of a claim, you would need something from her doctor indicating the date of her initial disability and for how long, etc.

    And, based on your post that the policy was only 3-months lapsed, I would think there might be a calculation where the policy would've been paid by the insurance company for 3 months. You might have a claim.

    But it all depends on the dates that correspond with the medical file by the attending physician.

    It's worth a try!
     
    DHK, Nov 2, 2016
    #4
  5. pfg1
    Offline

    pfg1 Guru

    Posts:
    1,335
    Likes Received:
    154
    State:
    Virginia
    Agree, its worth a try. Sounds like she might have fit ... whether or not they'll work with you is another story. Hope it works out, but don't hold your breath.

    This helps remind me that its key for our clients to know exactly what they have and why.
     
    pfg1, Nov 3, 2016
    #5
  6. WinoBlues
    Offline

    WinoBlues Guru

    Posts:
    18,864
    Likes Received:
    2,199
    State:
    California
    Agreed, and why it is important for us to reach out to our clients to do quick reviews and contact information updates. Not to mention it many times turns into new business or referrals.
     
  7. jdavis7765
    Offline

    jdavis7765 New Member

    Posts:
    3
    Likes Received:
    0
    Thanks everyone for the replies! Do you all have any best recommendation to do this, as far as communicating with the insurance company? Phone or mail?
     
Loading...