Posted: 8/14/2012 6:01:06 AM EDT
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http://finance.yahoo.com/news/life-insurers-pressed-lost-policies-030100774.html
They used SS Death Database for Annuities but not for LIfe Insurance. A sucker born every minute was their motto too. |
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State regulators estimate that over the decades, life insurers have failed to pay well over $1 billion in death benefits because it is up to beneficiaries to file a claim following a death.
That is the way it has always been. I'm not seeing the issue here, other than "them mean ole' insurance companies." |
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I don't think it's the responsibility of the insurance companies to chase down people to pay. If all it takes is one phone call to say, yeah this guy died, please remit payment, then what's the harm in holding onto the money?
It'd be nice if they did though. Bad business to seek out people to pay. |
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Claim you're a nonsmoker to get a better rate, or start smoking after you get a nonsmokers policy and your beneficiaries won't get squat after your autopsy either.
(I am not a lawyer, but I am a PI who has been working for insurance companies for 18 years.) Posted Via AR15.Com Mobile |
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Quoted:
State regulators estimate that over the decades, life insurers have failed to pay well over $1 billion in death benefits because it is up to beneficiaries to file a claim following a death.
That is the way it has always been. I'm not seeing the issue here, other than "them mean ole' insurance companies." Yes, that is the point, the ethically suspect insurance companies and a heads up to have a plan for your beneficiaries to collect....you, of course will be taking a nap....or as Bill O'Reilly says, "I'm looking out for you". |