I heard KSKJ is rescinding some policy’s

[WinoBlues]

Where is the laugh reaction button?

 

[jdeasy]

Love you Jd !!!!

I know

 

[Jccwell]

Nope. Never had it happen to me nor any agent I have known. Had never heard of this until some agents were complaining a few years ago about Trans doing it.

I had Oxford complete a "living rescission" on two policies in 2022.

 

[BobHarris]

Of the top of my head. 2 Americo, 1 Oxford and 1 Trans have been rescinded.

 

[jdeasy]

Of the top of my head. 2 Americo, 1 Oxford and 1 Trans have been rescinded.

On live people?

That's what we are talking about here. But even if talking about recissions at death it's a huge issue that most don't want to talk about. The industry average is 40% of contestable claims are paid.

That's why companies will not tell you what their percentage is. The only one I have ever known to make it public was CL at their agent convention a few years ago. They told their agents that they paid 48%. They were bragging!.

If you don't believe it then just after the holidays call up your favorite company and just ask then what percentage of contestable claims do you pay?

 

[BobHarris]

Yes

 

[BobHarris]

On live people?

Yes

 

[DonP]

Yes

Yes

And the 3 live people are the 3 of the carriers we have said do it . It must be super extremely rare on other carriers

 

[DonP]

On live people?

That's what we are talking about here. But even if talking about recissions at death it's a huge issue that most don't want to talk about. The industry average is 40% of contestable claims are paid.

That's why companies will not tell you what their percentage is. The only one I have ever known to make it public was CL at their agent convention a few years ago. They told their agents that they paid 48%. They were bragging!.

If you don't believe it then just after the holidays call up your favorite company and just ask then what percentage of contestable claims do you pay?

This 40% we can agree on . I've had at least 5 contestable fe claims not paid over the yrs. Am am denied a shitty 22 month old $5 k on 78 yr old . Cica denied a 2 month old in Jan . Had rna deny a $30 k claim 4 yrs ago .

 

[jdeasy]

This 40% we can agree on . I've had at least 5 contestable fe claims not paid over the yrs. Am am denied a shitty 22 month old $5 k on 78 yr old . Cica denied a 2 month old in Jan . Had rna deny a $30 k claim 4 yrs ago .

Every company has told that's the industry average. They are counting AARP, Globe, CP, Bankers, LH and other crap like that too.