Do any FE companies have a reputation for not paying out in a timely manner?

[Newby]

Why the delay? Would think death certificate was all they needed..

Some of them don't even need a death certificate. All of the pre-need companies of course pay claims faster than a death certificate can be issued. But I have had Monumental (now TransAmerica) and Met Life both pay claims on smaller whole-life policies before death certificates were issued. They just accepted the form that funeral directors fill out to file for death certificates plus a copy of the newspaper obit.

 

[WinoBlues]

But I have had Monumental (now TransAmerica) and Met Life both pay claims on smaller whole-life policies before death certificates were issued. They just accepted the form that funeral directors fill out to file for death certificates plus a copy of the newspaper obit.

Same.

United Heritage has cut the check the same day they received the notification from the Funeral Home. Then overnighted it.

I understand Lincoln Heritage releases a percentage very quickly as well.

Then we have Bankers.

 

[rousemark]

Some of them don't even need a death certificate. All of the pre-need companies of course pay claims faster than a death certificate can be issued. But I have had Monumental (now TransAmerica) and Met Life both pay claims on smaller whole-life policies before death certificates were issued. They just accepted the form that funeral directors fill out to file for death certificates plus a copy of the newspaper obit.

Yeah.. But this is a $500K case. Not preneed.

 

[Newby]

Yeah.. But this is a $500K case. Not preneed.

Yes they probably want to cross their T's and dot their i's before paying that one.

 

[billyb]

20YLT issued 1/2005. I wrote him when I was selling term by mail and he always stayed in touch. A while back he called me and let me know he was terminal, but I never asked the diagnosis. He just wanted to hear from me that his wife would not have any issues filing a claim. I assured him I would help her in any way that I could. Now she calls and always tells me how much her husband thought of me. That is why I get so upset at AIG because this is making me look bad. Not sure why they don't just cut the check.

 

[WinoBlues]

20YLT issued 1/2005. I wrote him when I was selling term by mail and he always stayed in touch. A while back he called me and let me know he was terminal, but I never asked the diagnosis. He just wanted to hear from me that his wife would not have any issues filing a claim. I assured him I would help her in any way that I could. Now she calls and always tells me how much her husband thought of me. That is why I get so upset at AIG because this is making me look bad. Not sure why they don't just cut the check.

Cause will be on the DC.

Murder? Suspicious death? Crime?

How long have the requirements been in claims?

 

[billyb]

I am not sure, but I suspect cancer. The claim was pending over a month. Just got a text from his wife saying she received the check today. This is the largest death benefit paid from a policy I have written. Some larger face amounts placed, but they are still alive.