Oxford Terminal Illness Rider

[DayTimer]

I received this marketing email from Oxford today. I'd like to draw attention to the two areas circled in yellow.

So, first, is this "terminal illness rider" like a double indemnity death benefit, i.e. if the insured dies of a terminal illness, it pays out an additional death benefit = to the face amount?

And do you suppose the "FALSE claims paid within 48 hours" is a typo?

 

[goillini52]

I received this marketing email from Oxford today. I'd like to draw attention to the two areas circled in yellow.

So, first, is this "terminal illness rider" like a double indemnity death benefit, i.e. if the insured dies of a terminal illness, it pays out an additional death benefit = to the face amount?

And do you suppose the "FALSE claims paid within 48 hours" is a typo?

I haven't seen the e-mail, so I don't know what the False is about. I'm sure the policy would have to be over 2 years old(out of the contestable period) to be paid within 48 hours.

The Terminal Illness Rider would be where if they've been told that they have less than a year to live, they can get a % of the Face Amount now, instead of it not being available until D-Day.

 

[Todd King]

I received this marketing email from Oxford today. I'd like to draw attention to the two areas circled in yellow.

So, first, is this "terminal illness rider" like a double indemnity death benefit, i.e. if the insured dies of a terminal illness, it pays out an additional death benefit = to the face amount?

And do you suppose the "FALSE claims paid within 48 hours" is a typo?

It just means they'll go ahead and pay the full death benefit on that. Most companies, if they have a TIR, are only going to pay out 50-75% of the DB early. Oxford will just go ahead and pay it all and be done.

And yes, I'm sure that was a typo on the flyer!

 

[wealth2u]

I received this marketing email from Oxford today. I'd like to draw attention to the two areas circled in yellow.

So, first, is this "terminal illness rider" like a double indemnity death benefit, i.e. if the insured dies of a terminal illness, it pays out an additional death benefit = to the face amount?

And do you suppose the "FALSE claims paid within 48 hours" is a typo?

You probably didn't read the fine print on the 48 hours claims paid:

"Based on actual experience of non-contestable claims when death certificate, complete claim form, two proofs of ID and policy are received."

 

[DayTimer]

You probably didn't read the fine print on the 48 hours claims paid:

"Based on actual experience of non-contestable claims when death certificate, complete claim form, two proofs of ID and policy are received."

I saw that. I'm not questioning the "48 hours" portion. I was specifically referencing the "F A L S E claims paid ..." portion.

 

[goillini52]

I saw that. I'm not questioning the "48 hours" portion. I was specifically referencing the "F A L S E claims paid ..." portion.

Ahhhhhhh, the "F" word.