My First Death Claim

[Rearden]

Got immediate coverage on a man through Monumental; dies 10 days after receiving the policy. I don't know the cause of death, as family contacted Monumental directly to file the claim.

Any thoughts/advice on dealing with claims?

 

[Guest]

hope that it pays........

 

[rousemark]

Dave: Rough that you first claim was a contestable one.. If he was honest with you on the app, then there should be no reason for it not to pay. If not, then he brought the problem on the family himself as I am certain you recorded the questions as answered. I have decided that this is the reason I like for the company to do a POS interview. Was anyone else present when you took the app?

If it gives you any confidence, I have had 3 death claims and 1 waiver of premium claims that happened within the 7 days after the app was taken (before policy was approved) with the old NL&A. In fac teh wp claim occurred the same night the app was taken.. Guy left the house on his motorcycle right after I left and was hit by a train. All four claims were paid under the terms of the conditional receipt with no problems.... Louis

 

[STIBROKER]

AND what ever you do don't stand up at the funeral and say the family is set for life.......
Courthouse News Service

 

[jacobtn]

I tend to worry more about contested claims when there is replacement involved. If no replacement than I wouldn't worry as much. It's out of your hands. If there wasn't anyone else present, then you have nothing to worry about. Trouble is, if there is someone else present, they could always say "daddy told him he had cancer" or something to that effect.

 

[STIBROKER]

I tend to worry more about contested claims when there is replacement involved. If no replacement than I wouldn't worry as much.

in both case's I am betting it will be contested......

 

[Mark]

Got immediate coverage on a man through Monumental; dies 10 days after receiving the policy. I don't know the cause of death, as family contacted Monumental directly to file the claim.

Any thoughts/advice on dealing with claims?

Might have been an accident. Maybe he didnt lie on the app.

 

[SportsNut]

AND what ever you do don't stand up at the funeral and say the family is set for life.......
Courthouse News Service

And Miss Primerica thought she had a new found source of business... aka a new way to prospect. Make the pitch at the funeral in a group/seminar setting, then do follow-up calls to those in attendance and just write em up. [Frickin ***]

That is preposterous... if it wasn't so morbid it would be humorous.

 

[yogooglethis]

Got immediate coverage on a man through Monumental; dies 10 days after receiving the policy. I don't know the cause of death, as family contacted Monumental directly to file the claim.

Any thoughts/advice on dealing with claims?

Family didn't call you to help with claim or questions? ..hmmm. Did the sale seem to easy ? Did the client call you to buy the insurance

I did have a client that died about two weeks after 15k FE policy was issued with the now defunct State Mutual Patriot FE and I was very concerned it would be contested because it was a replacement of a term policy.Turned out that he died of a undiagnosed cancer and claim was paid a few days after the death certificate was received.

 

[Rearden]

Nope. Sent in a lead card. Had only COPD and qualified for Monumental's Standard FE program. Nothing seemingly fishy... but strange the family didn't contact me, as I papered him with business cards.