Disability

[millerjade45]

By chance ANY carrier that would pick up a guy for short term or long term disability (medically underwritten or not) that had colon cancer in 2005 and not a lick of cancer since? I think I'm hoping against hope here...he had an Unum Provident disability policy previously that paid out for him during his first bout with cancer, but now since he doesnt have the policy anymore is he out of luck? If he can't get the disability, what other insurance offerings could he buy in case he is disabled again with cancer or something else? Anything make sense in this case?

 

[BNTRS]

Why doesn't he have the Unum product anymore? The chances of getting a case placed with him is pretty much nil.

 

[Mark]

Call Assurity Life at 800-276-7619...I think they have a product that will take him.

 

[JustinUpright]

He can get a cancer indemnity policy by being cancer free for 5 years.

 

[petrovlucca]

Despite the logic that lay behind the combining of two leading disability insurers, UnumProvident got off to a very rough start. Difficulties integrating the sales forces led to a decline in policy sales. During the second and third quarters of 1999, the company took hundreds of millions in charges for merger-related activities, including severance packages and the elimination of duplicate facilities, and to the winding down of the reinsurance operations, as well as charges meant to bolster reserves. These charges resulted in net losses for the quarters and for the year overall. The losses sent the company stock plummeting, down a staggering 70 percent from June 1999 to February 2000. Five class-action lawsuits were subsequently filed on behalf of investors, charging that company management misled investors and failed to properly conduct due diligence prior to the merger (in October 2001 the parties reached a tentative agreement that would involve UnumProvident paying $45 million to settle all the claims). In November 1999 came the surprise announcement that Orr was resigning immediately and that Chandler would take on the additional titles of chairman and CEO. Orr's departure highlighted for many of the former UNUM employees in Portland that power at the new company clearly resided in Tennessee and with Provident executives. The old UNUM culture--the firm was affectionately called "Mother UNUM" and known for having a worker-friendly environment--appeared to be vanishing, and morale in Portland was wilting.
The return to profitability in 2000 and 2001 appeared to indicate that UnumProvident had weathered the difficult integration and was operating more smoothly. Net income totaled $564.2 million in 2000 and $579.2 million in 2001. During 2001 UnumProvident acquired the assets of EmployeeLife .com, an Internet services company offering employers help with the management and administration of employee benefits. The operation was transferred to a new subsidiary called Benefits Technologies, Inc., which did business under the name BenefitsAmerica. Also during 2001, the company sold Provident National Assurance Company, an inactive subsidiary licensed to sell annuities in most states, to Allstate Life Insurance Company.
Despite the improving financial performance, UnumProvident's stock continued to languish well into 2002. Investors were apparently concerned that the company's performance and future prospects were being hampered by a number of factors, including low interest rates (which negatively affected the strength of the firm's $28 billion in investments), the weak U.S. economy, and rising claims; the latter two factors typically work together, as workers in a weak economy are more likely to file claims. Adding to the company's headaches was a series of revelations of investment losses related to a string of high-profile financially troubled firms, including Enron Corporation, WorldCom, Inc., TeleGlobe Inc., and Adelphia Communications Corp. Furthering the uncertainty surrounding UnumProvident was a lawsuit filed in June 2002 by a former medical director at the company's headquarters in Chattanooga. According to an article in the Portland (Maine) Press Herald, the suit claimed that UnumProvident had a "policy of summarily denying disability claims and using its medical staff to back up the denial." The company vigorously denied the allegations. For the first six months of 2002, UnumProvident recorded net income of $163.5 million, less than half the $329.1 million figure for the previous year.
Principal Subsidiaries: Provident Life and Accident Insurance Company; Unum Life Insurance Company of America; The Paul Revere Life Insurance Company; Colonial Life & Accident Insurance Company; First Unum Life Insurance Company; Provident Life and Casualty Insurance Company; GENEX Services, Inc.; Unum Limited (U.K.); Unum Japan Accident Insurance Company Limited; Benefits Technologies, Inc.; Provident Investment Management, LLC.
Principal Competitors: The Hartford Financial Services Group, Inc.; Metropolitan Life Insurance Company; Prudential Financial, Inc.; CIGNA Corporation; Aetna Inc.; AFLAC Incorporated; Aon Corporation.

 

[WinoBlues]

What?..... Ok, what is he selling?

Despite the logic that lay behind the combining of two leading disability insurers, UnumProvident got off to a very rough start. Difficulties integrating the sales forces led to a decline in policy sales. During the second and third quarters of 1999, the company took hundreds of millions in charges for merger-related activities, including severance packages and the elimination of duplicate facilities, and to the winding down of the reinsurance operations, as well as charges meant to bolster reserves. These charges resulted in net losses for the quarters and for the year overall. The losses sent the company stock plummeting, down a staggering 70 percent from June 1999 to February 2000. Five class-action lawsuits were subsequently filed on behalf of investors, charging that company management misled investors and failed to properly conduct due diligence prior to the merger (in October 2001 the parties reached a tentative agreement that would involve UnumProvident paying $45 million to settle all the claims). In November 1999 came the surprise announcement that Orr was resigning immediately and that Chandler would take on the additional titles of chairman and CEO. Orr's departure highlighted for many of the former UNUM employees in Portland that power at the new company clearly resided in Tennessee and with Provident executives. The old UNUM culture--the firm was affectionately called "Mother UNUM" and known for having a worker-friendly environment--appeared to be vanishing, and morale in Portland was wilting.
The return to profitability in 2000 and 2001 appeared to indicate that UnumProvident had weathered the difficult integration and was operating more smoothly. Net income totaled $564.2 million in 2000 and $579.2 million in 2001. During 2001 UnumProvident acquired the assets of EmployeeLife .com, an Internet services company offering employers help with the management and administration of employee benefits. The operation was transferred to a new subsidiary called Benefits Technologies, Inc., which did business under the name BenefitsAmerica. Also during 2001, the company sold Provident National Assurance Company, an inactive subsidiary licensed to sell annuities in most states, to Allstate Life Insurance Company.
Despite the improving financial performance, UnumProvident's stock continued to languish well into 2002. Investors were apparently concerned that the company's performance and future prospects were being hampered by a number of factors, including low interest rates (which negatively affected the strength of the firm's $28 billion in investments), the weak U.S. economy, and rising claims; the latter two factors typically work together, as workers in a weak economy are more likely to file claims. Adding to the company's headaches was a series of revelations of investment losses related to a string of high-profile financially troubled firms, including Enron Corporation, WorldCom, Inc., TeleGlobe Inc., and Adelphia Communications Corp. Furthering the uncertainty surrounding UnumProvident was a lawsuit filed in June 2002 by a former medical director at the company's headquarters in Chattanooga. According to an article in the Portland (Maine) Press Herald, the suit claimed that UnumProvident had a "policy of summarily denying disability claims and using its medical staff to back up the denial." The company vigorously denied the allegations. For the first six months of 2002, UnumProvident recorded net income of $163.5 million, less than half the $329.1 million figure for the previous year.
Principal Subsidiaries: Provident Life and Accident Insurance Company; Unum Life Insurance Company of America; The Paul Revere Life Insurance Company; Colonial Life & Accident Insurance Company; First Unum Life Insurance Company; Provident Life and Casualty Insurance Company; GENEX Services, Inc.; Unum Limited (U.K.); Unum Japan Accident Insurance Company Limited; Benefits Technologies, Inc.; Provident Investment Management, LLC.
Principal Competitors: The Hartford Financial Services Group, Inc.; Metropolitan Life Insurance Company; Prudential Financial, Inc.; CIGNA Corporation; Aetna Inc.; AFLAC Incorporated; Aon Corporation.

 

[arnguy]

What?..... Ok, what is he selling?

Sorry, too difficult to read and comprehend all that logorreha!

 

[ComeOn]

I'm blinking on all that now. I read about a quarter of it before my eyes started to tear up. Most of these guys just sell wheelchairs and wow gold. Maybe he's for real?