[LTC-Sales_Discussions] LTC claims time
David Hensley
ltc-sales_discussions@ltpcalums.com
Thu, 30 Oct 2003 10:09:28 -0500
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<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>Eric,</FONT></SPAN></DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>Our=20
firm has now been in the business for more than a decade and has =
had in=20
excess of 100 actual claimants who received benefit payments under =
their=20
policies. Our firm has probably request more than 300 forms for =
clients=20
but many never file due to death or recuperation. Over the years =
we=20
have had claimants with Travelers, GE, Conseco and John =
Hancock. =20
Our other blocks of business are very new and have not=20
had claimants at this point.</FONT></SPAN></DIV>
<DIV><SPAN class=3D374233214-30102003></SPAN> </DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>Most=20
of the companies to this point have =
been generally very prompt=20
and straight forward. Our biggest problem occurring now =
is with=20
Travelers business being administered by GE. The older =
clients are=20
being lapsed out of their coverage. It has occurred =
twice=20
this year alone. The situation is GE sends the=20
statement using old address data. It is not =
forwarded to=20
the older client's proper address The 80+ year old client, =
due to=20
aging, does not remember to make the annual/semi=20
annual payment. Neither the agent or agency is receiving a =
copy=20
client lapse notice which is also incorrectly addressed. A =
real=20
recipe for disaster.</FONT></SPAN></DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>The=20
reinstatement process has proven to be most difficult with =
GE. A=20
particular 80+ year old single client had clear medical =
records making=20
them an automatic claimant. The reinstatement request to GE was =
denied and=20
then denied again on appeal. At this point I had to =
personally elevate=20
the GE denial of both the reinstatement and appeal issue to =
the=20
Commissioner of Insurance for the clients home state. After an=20
investigation, GE did reinstate ultimately. How many of our =
clients=20
have someone who will be their advocate?</FONT></SPAN></DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D374233214-30102003><FONT face=3DArial color=3D#0000ff =
size=3D2>David</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B> Eric Couch=20
[mailto:vecouch@bordenhamman.com]<BR><B>Sent:</B> Wednesday, October =
29, 2003=20
4:48 PM<BR><B>To:</B> =
'ltc-sales_discussions@ltpcalums.com'<BR><B>Subject:</B>=20
[LTC-Sales_Discussions] LTC claims time<BR><BR></FONT></DIV>
<DIV><SPAN class=3D220114021-29102003><FONT face=3DGaramond =
color=3D#0000ff=20
size=3D4>Where does one find out which companies have a =
<STRONG>history of=20
paying claims & which don't</STRONG>?</FONT></SPAN></DIV>
<DIV><SPAN class=3D220114021-29102003><FONT face=3DGaramond =
color=3D#0000ff=20
size=3D4></FONT></SPAN> </DIV>
<DIV><SPAN class=3D220114021-29102003><FONT face=3DGaramond =
color=3D#0000ff=20
size=3D4>Also, I've repeatedly <STRONG>heard rumor</STRONG> & =
I stress=20
rumor that <STRONG>GE LTC has had a problem paying =
claims</STRONG>. =20
I find that hard to swallow and would love input on it & where =
this is=20
coming from. Opinions are great, but <U>I'm looking for =
documented=20
facts</U>.</FONT></SPAN></DIV>
<P><FONT size=3D2><FONT face=3DGaramond color=3D#800080>Make it =
SIMPLE. Make=20
it CLEAR. Make it HAPPEN.</FONT><B></B> <BR><FONT =
face=3DGaramond=20
=
color=3D#000080> &nb=
sp; =20
-</FONT><B><FONT face=3DGaramond color=3D#000080>V. Eric Couch, CSA,=20
CLTC</FONT></B><FONT face=3DGaramond=20
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color=3D#000080> &nb=
sp; &nbs=
p;  =
; =
&=
nbsp; =20
</FONT><BR><FONT face=3DGaramond=20
=
color=3D#000080> &nb=
sp; =20
vecouch@bordenhamman.com </FONT><BR><FONT face=3DGaramond=20
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color=3D#000080> &nb=
sp; =20
800-492-9190 ofc</FONT> <BR><FONT face=3DGaramond=20
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color=3D#000080> &nb=
sp; =20
Annuity & Long Term Care Marketing</FONT> <FONT face=3DGaramond=20
=
color=3D#000080>Co-Dir.</FONT><BR></FONT></P></BLOCKQUOTE></BODY></HTML>