RNA Death Claim

Jan 12, 2019 at 4:43 PM

  1. emanTX
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    emanTX New Member

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    i got a client death claim on an in force policy written October 2017. It was a paperless app. I completed the agent's death claim form. what can i expect from here? I assume this is FE, so these carriers will pay out quickly to the family.
     
    emanTX, Jan 12, 2019 at 4:43 PM
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  2. WinoBlues
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    WinoBlues Guru

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    Expect and let your client know that it is going to be a while. Have them get all of the doctor's information in order.
     
    WinoBlues, Jan 12, 2019 at 5:10 PM
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  3. adjusterjack
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    adjusterjack Guru

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    I imagine even FE policies have a contestability clause. Expect an investigation. It can take at least a month, maybe several.
     
  4. DayTimer
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    A month would be one thing, but several? Oh my ...
     
    DayTimer, Jan 12, 2019 at 6:59 PM
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  5. adjusterjack
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    adjusterjack Guru

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    Depends on how fast the medical providers responded to a records request. Depends on whether any given set of records would reveal other sources of medical records. I conducted contestable investigations back some years ago. I was usually able to get most of them done in a month, some sooner. Once in a while they took longer. Also depends on how far back the application went.
     
  6. WinoBlues
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    WinoBlues Guru

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    It absolutely can take several.

    I have many claims. Contestible claims can drag on for months. My own uncle's claim was six months.

    The number one thing you can do to keep the time short is to emphasize to the beneficiaries that they need to list - all- doctors. Not just the GP. That way the company does not APS the GP, wait 3 weeks, spend a week on the APS to find there is an internist then a cardiologist then a overnight stay in the hospital.
     
    WinoBlues, Jan 12, 2019 at 8:31 PM
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  7. WinoBlues
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    WinoBlues Guru

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    Non contestible claims are typically quicker.

    However, there can be unforeseen delays and normal company slowness.

    Examples are Jackson National and Oxford would say they are at least 21 from the time they get the claim paperwork and DC in office. Many counties are a couple weeks getting the DC done and if the funeral home is getting it they can drag their feet as well since they do not want to go to the hall of records everyday.

    A few companies may take Notification of Death from the FH. In my mother's case the benefits were paid the day after she died and I had thrm in hand 10AM the next day.

    Assignments are different. While it gets the funeral home paid it can drag out the beneficiary getting their part as the assignment companies are not the quickest at getting the DC to the insurance company.
     
    WinoBlues, Jan 13, 2019 at 12:29 AM
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  8. adjusterjack
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    Right.

    All doctors, all hospitals, all insurance, all pharmacies, and keep all the prescription medication bottles for the investigator to examine.
     
  9. Newby
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    Newby Guru

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    Assignments are lightning fast on non contestible claims. Everyone can be paid within 24 hours on claims of $25,000 or less.

    But if they are contestible then assignment companies can not be used. That’s what slows thing down.
     
    Newby, Jan 14, 2019 at 9:32 AM
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  10. VolAgent
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    VolAgent Guru

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    Not slows down insurance faster than the company finding out about a doctor, facility, etc. via medical records. This is as near the kiss of death as you can get.

    When in underwriting, it just makes the underwriter beyond suspicious that something is being hidden.

    When in claims, such as this, this guarantees at least another 30 days to chase down records from the newly discovered provider. Plus, now claims may start to question if something was not disclosed on the application.

    It all needs to be disclosed as much as possible upfront.
     
    VolAgent, Jan 14, 2019 at 9:56 AM
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