First Death Claim

[tins]

Wow! I know some of you guys like to brag about writing a plan for a prospect that has the cheapest premium available, which is commendable. You like to say you're doing what's right for the prospect.

But even though Ms. Jones may save $2-$15 per month on her premium, do u really think u did anyone any justice when u know the carrier, from prior experience, takes 6 months-10 months to pay out? How can u say u are doing what's right for the prospect when u know that carrier pays out that slow?

I guess the prospect gets what they pay for.

Wouldn't it be better to write for a company that takes a long time to pay out the contestable claim, rather than a company (such as LH or SL) that makes a decision quickly, but it's always a denial?
I think it would be better to write the company that will eventually pay the claim.

 

[Mattschmidt]

Wow! I know some of you guys like to brag about writing a plan for a prospect that has the cheapest premium available, which is commendable. You like to say you're doing what's right for the prospect.

But even though Ms. Jones may save $2-$15 per month on her premium, do u really think u did anyone any justice when u know the carrier, from prior experience, takes 6 months-10 months to pay out? How can u say u are doing what's right for the prospect when u know that carrier pays out that slow?

I guess the prospect gets what they pay for.

Are you going on record saying Senior Life does not contest claims filed within the first 2 years????

 

[rousemark]

Thats crazy cause in the 16mos Ive been doing this, Ive had 3 already....ALL with RNA!

1) Like the 3-4 app I ever wrote (I even posted about the appt, it was so weird & funny), the lady was like 68, taking care of her 90+ yr old mother. Mother died like 6mos after I wrote policy, and my client died suddenly about 2mos lata, they say from the stress of losing her mom.

2) Wrote up a 70something yr old man who was active & looked better then his 50something yr old wife. About 1 mo after I wrote it, it started complaining of strange pains, they kept running test found nothing, did biopsy & he died. The last time I spoke to widower, Drs still hadnt determined how/why he died, it was mysterious.

3) Wrote a lady in Jan, diabetic, had severe back pain cause she was allergic to all pain meds & had 2 prev car accidents, but nothing else. Stopped by 1 day, another person was living in her apt, a passerby said he believed she died. A few weeks later, her son calls me & explained she had a massive heart attack & died in her apt by herself & wasnt found for 2 days, sad!

So, either I dont know what Im doing & got some incredible bad luck with 3 already in 16mos.

Were the claims paid? If so, how quickly.

 

[protego55]

Wow! I know some of you guys like to brag about writing a plan for a prospect that has the cheapest premium available, which is commendable. You like to say you're doing what's right for the prospect.

But even though Ms. Jones may save $2-$15 per month on her premium, do u really think u did anyone any justice when u know the carrier, from prior experience, takes 6 months-10 months to pay out? How can u say u are doing what's right for the prospect when u know that carrier pays out that slow?

I guess the prospect gets what they pay for.

Hey Greg how soon has Senior life paid those types of claims from your experience? Just an honest question...

 

[jdeasy]

Wouldn't it be better to write for a company that takes a long time to pay out the contestable claim, rather than a company (such as LH or SL) that makes a decision quickly, but it's always a denial?
I think it would be better to write the company that will eventually pay the claim.

According to the funeral homes in this area LH/SL are the worst about not paying paying contestable claims.

I know personally of 3 LH claims that were not paid right here in my hometown. And those were not from my policy holders. Thankfully I never had a contestable claim with LH.

It has nothing to do with the price of the policy for these companies to deny claims. Only a complete imbecile would try to make such a claim.

 

[theinsuranceman]

Hey Greg how soon has Senior life paid those types of claims from your experience? Just an honest question...

I've not had a death claim yet. Been writing for Sr Life 3 years as of this past April. We do state that claims are normally paid out after all the necessary paperwork is received.

Obviously, a death claim within the 1st 2 yrs. of issue, would receive much more scrutiny than if the claim were 2+ yrs. after issue. Sr Life realizes the value of fast payouts on death claims. Additional biz can be picked up from some of the deceased's family members who don't have any coverage and are impressed about the fast payout.

Other FE co.'s should payout faster for these very same reasons.
- - - - - - - - - - - - - - - - - -

Wouldn't it be better to write for a company that takes a long time to pay out the contestable claim, rather than a company (such as LH or SL) that makes a decision quickly, but it's always a denial?
I think it would be better to write the company that will eventually pay the claim.

Are u saying that LH and SL never pay out death claims? If so where is your evidence/proof?
- - - - - - - - - - - - - - - - - -

Are you going on record saying Senior Life does not contest claims filed within the first 2 years????

Matt, bless you. I believe ALL co.'s will review all necessary documentation when death occurs during the contestable period. Surprised you didn't already know that.

 

[VolAgent]

Wow! I have never had a death claim take 6 months to pay..That seems inexcusable

Those country doctors must be fast about returning records then. If there is any delay in getting the death certificate, list of doctors or doctors returning medical records, it is easy to go past 6 months.

 

[tins]

Are u saying that LH and SL never pay out death claims?
-

Yes, I am say those are terrible companies when it comes to paying death claims in the contestable period. They pay a very small percentage of those claims. Even outside the contestable period SL is pretty slow compared to most companies. LH does a pretty good job being speedy outside the contestable period.
Do some research if you wish to see the facts for yourself, or live in ignorant bliss...your choice.

 

[GMDM100k]

Yes, I am say those are terrible companies when it comes to paying death claims in the contestable period. They pay a very small percentage of those claims. Even outside the contestable period SL is pretty slow compared to most companies. LH does a pretty good job being speedy outside the contestable period.
Do some research if you wish to see the facts for yourself, or live in ignorant bliss...your choice.

All I can write of is my direct experience.

In the 10 years I have been working with LH I have not had a single death claim not pay out. Maybe its because I fill the app out right. Maybe its because I'm not shadey and don't fudge apps.

But in my experience they pay claims contestible or not.

I have done my research through writing many many apps with them.

 

[jdeasy]

Yeah, that's it. The only reason the company doesn't pay is because the agents are "shady".

So that's the company line now?

You are nothing but a tool.

All I can write of is my direct experience.

In the 10 years I have been working with LH I have not had a single death claim not pay out. Maybe its because I fill the app out right. Maybe its because I'm not shadey and don't fudge apps.

But in my experience they pay claims contestible or not.

I have done my research through writing many many apps with them.