We all know the claim is valid but we also know many companies are unethical and will deny it in the contestable period. A ton of times people on here act like they could give 2 craps which company they sell and I think it is important to know your company. For instance people seem to like trinity and snl yet I've never seen a post on how quickly and ethically they've handled contestable claims.These are very small life insurance companies. Do they drag there feet and look super hard for a way not to pay?
Graded Plan for Stroke Last 12 Months
- Thread starter Laying3
- Start date
- 19,035
I haven't had a death claim with either so I don't know. But I do know that one of the largest and an A rated company is one of the most difficult to get to pay.
And we har on here all the time that LH is the largest FE company in the world. Their reputation is that they are the least likely to pay a contestable claim.
Settlers is not that big of a company but they seem to be the best at paying contestable claims. They are the only one that publishes their contestable payment percentage.
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Perry, every company is going to look at health history for any contestible claim. If the person had a condition for something they screen for (misrepresentation) they will not pay the claim.
But I guarantee you the companies that say they accept insulin diabetics pay the claim if insulin diabetes is the only problem. If they have diabetic coma, that's another story.
The companies that accept TIA mini strokes will pay the claim if the person had a TIA mini stroke.
The size of the company makes no difference at all. If anything, the biggest ones might be a little worse.
Over the years, I have had claims within the contestable period with several different companies. I have never had a company go out of their way not to pay a claim or even drag their feet on paying it. In fact, I have had companies go out of their way trying to justify paying a claim that was questionable. What some do not understand is that a comapny can get into just as much trouble for paying a claim that should not be paid as they can for not paying a claim that should be paid. Paying claims that should not be paid under the terms of the policy put the company at financial risk.
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BTW, all the contestable claims I have had have been paid, including one for 50K where I took the app on Thursday and the man died of a heart attack late Friday night. I hadn't even put the app in the mail.
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Have you had many claims denied? I would like to hear people's claims experience SNL as well.
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I had one. Lady croaked after a year and they payed 10K.
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Seems that someone mentioned that they pay claims quickly due to having a Preneed side. Do not know if that is true or not. Non contestable.
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I had one(albeit the ROP), after 4 months...its was paid pretty quick, I think within a month, maybe quicker. The benes weren't very talkative.
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They are like all pre-need companies. On 2+ year old policies they pay funeral homes as soon as they are notified by a licensed funeral director of the death. They do not need to wait on death certificates. If mom dies today, the funeral home has their money in their account tomorrow.
That's the number one thing pre-need companies have to do. There are no exceptions or they would be out of the PreNeed business no matter what else they did right.
That's the number one thing pre-need companies have to do. There are no exceptions or they would be out of the PreNeed business no matter what else they did right.
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