Don't Fall for the Burial Insurance Blow-Off

http://www.consumerwarningnetwork.com/2009/06/04/dont-fall-for-the-burial-ins...
Burial insurance is supposed to provide peace of mind that you won't burden your loved ones with your funeral expenses. Unfortunately, for some, it turns into a battle for those left behind. A curious case recently came to our attention from WTSP TV, the CBS station in Tampa, Florida.

An 84-year old woman died of cardiac arrest two years after buying a $5000 burial insurance policy. She paid all her premiums on time, but when it came time to cash in the policy, her son says the company refused to pay. How common is this, and what should you do about it?

Category:

News & Politics

Tags:

• burial
• insurance
• ripoff
• scam
• consumer
• warning
• network

[wildpeachatl737]

There's a comany in S. Georgia, Senior Life Insurance Company who seems to be using the same modus operandi.

After my best friend's mother passed away, they had what they thought was a $3K policy only to find out afterher death that the insurance company determined that she should have NEVER BEEN SOLD the policy in the first place (even after it was allegedly underwritten) and returned only premuims paid.

This has got to stop, you can't even depend on insurance - just keep $ in a mattress.

[wildpeachatl737]

I'm going to request a large cardboard box, like an appliance box or something or maybe a Viking funeral. Set me on fire and set me adrift, you get the fire and water thing going!

[AinataKula]

Just noticed in the last year or two (in Australia!) every insurance company has at least four different TV commercials for Funeral Insurance! Most of them are on during the day, when they suppose most seniors are watching. Other types of insurance don't rate. Their main sales pitch is that funeral homes want to be paid very quickly - crap!, that you can't let your loved ones pay for your funeral - crap also! They're getting all your posessions, so what's so terrible about paying for your plot??

[melskilove]

i sold life accident and health insurance you must must must must read your contract and go with a good company some companies can take up to 2yrs to contest your policy and this common read remember you have a 30 day free look period before your policy is in full swing the bigger companies tend to be more strict on the underwriting and the smaller companies a little less expensive but to cover themselves have much longer incontestability period due to lacks in underwriting..

[finalexpensebyphone]

It is very sad when this kind of situation happens. You need a reputable agent who represents strong companies, not shady ones. Then, the insurance does what it's supposed to do. That's what we do at Final Expense By Phone: only represent A rated carriers with at least a hundred years of experience and reputation. We're at 1-800-729-9590.

[YovaKid]

@wildpeachatl737

she lied on her application period, they go to the medical evalulation board that looks at ALL of your medical records. if you LIE and they find it within the contesibility period (typically 2 years after first premium) they reserve the right to cancel your policy. you will be returned your premium and your policy will be null and void. Renal issues SPECIFICALLY make you uninsurance to both life AND health insurance

[hr1dave]

Did you read the policy when you received the policy. The company has the right to investigate the first 2 years of the policy. Was it a Graded or Modified policy? You must understand what you are buying. The agent probably did not explain the policy to your very well.

[jontheundertaker]

@michaelringinsurance Thank you for giving such sound advise. It really makes a huge difference to choose an insurance company with at least an A rating. I have seen so many families get the "run-arround" during the most difficult times of their lives.

[michaelringinsurance]

As an insurance agent, I recommend clients shop around. Be sure you are dealing with at least an "A" rated company. Bankers Life and Casualty has a BB- rating for claims paying ability according to AM Best. You should not experience headache during your time of heartache and loss. I'm sorry for your most difficult experience. The fact is, you do have legal recourse. Insurance policies are governed by contract law. Gat an attorney or call your state insurance department.

[michaelringinsurance]

As an insurance agent, I recommend clients shop around. Be sure you are dealing with at least an "A" rated company such as Foresters. Bankers Life and Casualty has a BB- rating for claims paying ability according to AM Best. You should not experience headache during your time of heartache and loss. I'm sorry for your most difficult experience.