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In Reply to: Re: Unium long term ripoff posted by TVO on August 22, 2001 at 20:08:21:
: : I worked for the same company for eighteen years and left on medical leave a year ago. I was covered by Unium long term and as of today have been rejected twiced. The doctors will not allow me to work and have restricted me from driving standing sitting prolonged times,but yet they say that I am able to do my job. I feel this insurance has been misrepersented to me. The referance to my morbid obsity was mention in both rejection. I feel that that in essence have come to a conclusion that I am just fat and lazy and do not want to work. If I can I plan to make them libal for their actions and what it has cost me. If anyone has had a problem with this company please e-mail me thank you.
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: Rebecca, you most likely have GROUP long term disability insurance ( which you purchased as a payroll deducted benefit for a few dollars a month or was paid by your employer for your benefit ) -- in this type of insurance the definition of disability is typically defined as TOTAL DISABILITY -- that is unable to perform ANY work in ANY OCCUPATION. In group disability insurance the insurer also reserves the right to deny a claim and modify coverage without notifying the insured. It is a very basic benefit. This is distinct from INDIVIDUAL NON-CANCELABLE disability income insurance which is typically Own Occupation or loss of earnings -- that is you can't work in your REGUALR OCCUPATION or loss at least 20% of your income due to sickness or injury -- you do not have this type of insurance because it is very expensive and must be medically underwritten. If you are indeed obese then it is unlikely that you would even qualify for it. Moreover Individual non-cancellable policies are usually marketed to white collar occupations. There are blue collar varieties available ( most notably Illinois Mutual, but they offer only a limited benefit period -- typically 5 years ) but if you have not had the benefit of proper financial counsel from a competant financial, and insurance professional it is VERY UNLIKELY that this need was ever addressed or explained you. You have no recourse in this matter.
: Additionlly, UNUMProvident ( your carrier ) is the largest writer of GROUP disability policies -- and as stipulated in their contract they reserve the right to fully underwrite at POINT OF CLAIM -- that means they reserve the right to deny a claim if they feel you are not a good risk.
: Let Rebeccas experience serve as a warning to everyone -- know your benefits and do not overlook disability. Everyone talks about getting a good deal on life insurance -- this is a joke because the likihood of dying before age 65 is statistically non-existent ( less than 10 in a thousand on average from ages 35 to 65 )BUT the chances of becoming disabled for at leadt 90 days is on average 1 in 8 -- and the chances of becoming disabled permanently or in excess of 90 days is 1 in 4 !!!!!!
: So you PFSer-cum-financial planners on this board raise your practice to a new level and really serve your clientele -- get to know the Disability income insurance market -- the BEST blue collar carrier is Illinois Mutual -- the best professional market carriers are MassMutual, Guardian, and Berkshire Life ( a unit of Guardian ).
: For you professional advisors out there ( CFP, CLU, ChFC et. al. ) offer your clients disability. Educate them to make the best choices and make them aware of the risks of being without it.
: I have been a professional advisor for 6 years and have 300 high net worth clients -- I have had 1 death claim ( $5,000,000.00 ) AND 7 disablity claims. I am the voice of experience.