Insurance company refund
samkarenorkaren
3 years ago
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Rose Pekelnicky
3 years agosushipup1
3 years agoRelated Discussions
Is this a good idea? (Cancer Insurance with Refund)
Comments (57)I would have to disagree with the post that included "Scam beware Cancer Insurance Family Heritage"... "This cancer insurance is a scam."..."...You are much better off not buying this insurance. Put this money in a bank or invest it. You get the interest and get all the money if you can't fund your bank account after 7 years or whenever. Change your diet, exercise and minimize your risk to cancer. Even if your a compulsive smoker. work in an asbestos factory and drink out of styrofoam cups... Don't get this policy, they payout is not worth the premiums. This insurance company is all about screwing you out of your money." My mother in law who has always been pretty healthy (or so we thought), began her policy with Family Heritage in Oct 2010. She was over age 55 so her premiums were kind of high (I thought). With the highest paying cancer coverage, her monthly premium was $108/month. On Dec 17, 2010, she was diagnosed with small cell lung cancer (stage IV) with metastisis. She passed away Oct 27, 2011. From December 2010 to May 2011, she had already received over $30,000 in payments from Family Heritage, and we are awaiting the final payment for the May through Oct (expecting atleast another $17,000). If you are at risk for cancer, it is a good idea! And I know that $47,000 is not much considering the bills for chemo, hospital stays, icu, doctors, etc; but, if you are lucky -as my mother in law was- you will have very good health insurance that covers all of those bills except for office co-pays after your deductible has been met each year. So all of that was hers. Also, if a person dies within the 25 years, the beneficiary receives the life insurance that goes with the policy. So if you pay on it 5 years, don't use it, then pass away, the beneficiary gets the life insurance. However, as in the case of my mother in law, since they paid her well more than the life insurance, her beneficiary did not receive the life insurance. Also, if she had been paid $3,000 from the company, the life insurance amount would have been reduced by the amount paid out. For example: 15,000 life ins -3,000 cancer ins paid to insured= 12,000 life ins payout to beneficiary. Not everyones going to have the same situation (otherwise they would go bankrupt), but I do know that this is what she benefited from her policy and her kids did as well. We got a policy for ourselves as well!...See MoreAny reason to be 'brand-loyal' to my insurance company?
Comments (14)Switch!! I used to work for a Major Insurance Company at their national claims office. Many people assume incorrectly that their loyalty really matters. It plays a very small roll; more accurately, the number of claims in any given amount of time is what is really important. There is a national database that tracks all insurance claims for all major companies, and any new company you are with will look at your lifetime claim history, no matter who you were insured with at the time. People also assume that their personal relationship with an agent matters. It doesn't really... only in a feel good way. Any problems you have with a claim usually require that you work with the national claims office and you will spend your time on the phone with the claims office. Your agent will not really represent you. They can't "give you a good deal" or make concessions for you. I have found that the greatest benefit of having a local insurance agent is that I can fax documents to the national claims office for free, lol. The only advantage I have found with being with the same company long term is that we are grandfathered into some coverage that we couldn't get at this time (we get roadside assistance -100% for lockouts, dead batteries, flat tires- for $2.67 every 6 months). Oh, and all our insurance (including our business insurance, workers comp and liability) is through the same company. Great way to get discounts for multiple policies....See MoreHelp! Problems with insurance company
Comments (6)A lawyer and contractor will work better than a PA. See if your state has any consumer protection laws. In my state "unfair and deceptive business practices" can pay triple damages plus legal costs. A simple "demand letter" is sent outlining the loss and the insurance companies actions. Guaranteed you will be contacted by an attorney representing the insurance company and he'll be ready to deal if you have been treated unfairly....See MoreAnyone have US Specialty Insurance Company?
Comments (15)It is his insurance company that holds his bond/insurance. The bond that covers any damages caused to a home from a licensed contractor for faulty or uncompleted work. It is less having them pay out and more having them light a fire under his bum. We filed a complaint with BBB and Attorney General today. In the state of Oregon you have to wait 30 days past mailing a certified letter before filing a complaint with the contractors board....See MoreLindsey_CA
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