[LTC-Sales_Discussions] LTC claims time
Ann Bradley
ltc-sales_discussions@ltpcalums.com
Thu, 30 Oct 2003 14:48:49 -0500
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That's unfortunate. I wonder if this may become an issue as other
carriers sell their book of business. Will the managing insurer be able
to keep up with changes so a lapse does not occur? Will the writing
agent receive notification?
Ann Bradley
Certified Senior Advisor (CSA)
603-497-8231 , 888-892-0003
Fax: 603-497-8233
http://www.bradleyltc.com
-----Original Message-----
From: ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com] On Behalf Of David
Hensley
Sent: Thursday, October 30, 2003 10:09 AM
To: ltc-sales_discussions@ltpcalums.com
Subject: RE: [LTC-Sales_Discussions] LTC claims time
Eric,
Our firm has now been in the business for more than a decade and has had
in excess of 100 actual claimants who received benefit payments under
their policies. Our firm has probably request more than 300 forms for
clients but many never file due to death or recuperation. Over the
years we have had claimants with Travelers, GE, Conseco and John
Hancock. Our other blocks of business are very new and have not had
claimants at this point.
Most of the companies to this point have been generally very prompt and
straight forward. Our biggest problem occurring now is with Travelers
business being administered by GE. The older clients are being lapsed
out of their coverage. It has occurred twice this year alone. The
situation is GE sends the statement using old address data. It is not
forwarded to the older client's proper address The 80+ year old client,
due to aging, does not remember to make the annual/semi annual payment.
Neither the agent or agency is receiving a copy client lapse notice
which is also incorrectly addressed. A real recipe for disaster.
The reinstatement process has proven to be most difficult with GE. A
particular 80+ year old single client had clear medical records making
them an automatic claimant. The reinstatement request to GE was denied
and then denied again on appeal. At this point I had to personally
elevate the GE denial of both the reinstatement and appeal issue to the
Commissioner of Insurance for the clients home state. After an
investigation, GE did reinstate ultimately. How many of our clients have
someone who will be their advocate?
David
-----Original Message-----
From: Eric Couch [mailto:vecouch@bordenhamman.com]
Sent: Wednesday, October 29, 2003 4:48 PM
To: 'ltc-sales_discussions@ltpcalums.com'
Subject: [LTC-Sales_Discussions] LTC claims time
Where does one find out which companies have a history of paying claims
& which don't?
Also, I've repeatedly heard rumor & I stress rumor that GE LTC has had a
problem paying claims. I find that hard to swallow and would love input
on it & where this is coming from. Opinions are great, but I'm looking
for documented facts.
Make it SIMPLE. Make it CLEAR. Make it HAPPEN.
-V. Eric Couch, CSA, CLTC
vecouch@bordenhamman.com
800-492-9190 ofc
Annuity & Long Term Care Marketing Co-Dir.
_______________________________________________ LTC-Sales_Discussions
mailing list LTC-Sales_Discussions@ltpcalums.com
http://four.pairlist.net/mailman/listinfo/ltc-sales_discussions
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<p class=3DMsoNormal><font size=3D2 color=3Dblue face=3DArial><span =
style=3D'font-size:
11.0pt;font-family:Arial;color:blue'>That’s unfortunate.<span
style=3D'mso-spacerun:yes'> </span>I wonder if this may become an =
issue as other
carriers sell their book of business. <span
style=3D'mso-spacerun:yes'> </span>Will the managing insurer be =
able to keep up
with changes so a lapse does not occur?<span =
style=3D'mso-spacerun:yes'> </span>Will
the writing agent receive notification?<o:p></o:p></span></font></p>
<div>
<p><font size=3D2 color=3Dblue face=3D"Lucida Handwriting"><span =
style=3D'font-size:
10.0pt;font-family:"Lucida Handwriting";color:blue;mso-no-proof:yes'>Ann
Bradley</span></font><font color=3Dblue><span =
style=3D'color:blue;mso-no-proof:
yes'> <br>
</span></font><font size=3D2 color=3Dblue face=3D"Lucida Sans"><span
style=3D'font-size:10.0pt;font-family:"Lucida =
Sans";color:blue;mso-no-proof:yes'>Certified
Senior Advisor</span></font><font color=3Dblue face=3D"Lucida =
Sans"><span
style=3D'font-family:"Lucida Sans";color:blue;mso-no-proof:yes'> =
(CSA)</span></font><font
color=3Dblue><span style=3D'color:blue;mso-no-proof:yes'><br>
</span></font><font size=3D2 color=3Dblue face=3D"Lucida Sans"><span
style=3D'font-size:10.0pt;font-family:"Lucida =
Sans";color:blue;mso-no-proof:yes'>603-497-8231</span></font><font
color=3Dblue><span style=3D'color:blue;mso-no-proof:yes'> , =
</span></font><font
size=3D2 color=3Dblue face=3D"Lucida Sans"><span =
style=3D'font-size:10.0pt;font-family:
"Lucida =
Sans";color:blue;mso-no-proof:yes'>888-892-0003</span></font><font
color=3Dblue><span style=3D'color:blue;mso-no-proof:yes'> <br>
</span></font><font size=3D2 color=3Dblue face=3D"Lucida Sans"><span
style=3D'font-size:10.0pt;font-family:"Lucida =
Sans";color:blue;mso-no-proof:yes'>Fax:
603-497-8233</span></font><font color=3Dblue><span =
style=3D'color:blue;mso-no-proof:
yes'><br>
</span></font><font size=3D2 color=3Dblue face=3D"Lucida Sans"><span
style=3D'font-size:10.0pt;font-family:"Lucida =
Sans";color:blue;mso-no-proof:yes'><a
href=3D"http://www.bradleyltc.com">http://www.bradleyltc.com</a></span></=
font><font
color=3Dblue><span style=3D'color:blue;mso-no-proof:yes'> =
</span></font><o:p></o:p></p>
</div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>-----Original =
Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b>
ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com] <b><span =
style=3D'font-weight:
bold'>On Behalf Of </span></b>David Hensley<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> =
</span></font><st1:date
Month=3D"10" Day=3D"30" Year=3D"2003"><font size=3D2 face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>Thursday, October 30, =
2003</span></font></st1:date><font
size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;font-family:Tahoma'> </span></font><st1:time
Hour=3D"10" Minute=3D"9"><font size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;
font-family:Tahoma'>10:09 AM</span></font></st1:time><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'><br>
<b><span style=3D'font-weight:bold'>To:</span></b>
ltc-sales_discussions@ltpcalums.com<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> RE:
[LTC-Sales_Discussions] LTC claims time</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'><o:p> </o:p></span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
color=3Dblue face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;color:blue'>Eric,</span></fon=
t><o:p></o:p></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
color=3Dblue face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;color:blue'>Our =
firm has now
been in the business for more than a decade and has had in excess of 100 =
actual
claimants who received benefit payments under their policies. =
Our
firm has probably request more than 300 forms for clients but many never =
file
due to death or recuperation. Over the years we have had =
claimants
with Travelers, GE, Conseco and John Hancock. Our other =
blocks of
business are very new and have not had claimants at =
this
point.</span></font><o:p></o:p></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
color=3Dblue face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;color:blue'>Most of the =
companies to
this point have been generally very prompt and straight
forward. Our biggest problem occurring now is with =
Travelers
business being administered by GE. The older clients are =
being
lapsed out of their coverage. It has occurred twice =
this
year alone. The situation is GE sends the =
statement using old
address data. It is not forwarded to the older client's =
proper
address The 80+ year old client, due to aging, does not =
remember to
make the annual/semi annual payment. Neither the agent or =
agency is
receiving a copy client lapse notice which is also incorrectly
addressed. A real recipe for =
disaster.</span></font><o:p></o:p></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
color=3Dblue face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;color:blue'>The =
reinstatement
process has proven to be most difficult with GE. A =
particular
80+ year old single client had clear medical records making =
them an
automatic claimant. The reinstatement request to GE was denied and =
then
denied again on appeal. At this point I had to =
personally elevate
the GE denial of both the reinstatement and appeal issue to =
the
Commissioner of Insurance for the clients home state. After an
investigation, GE did reinstate ultimately. How many of our =
clients
have someone who will be their advocate?</span></font><o:p></o:p></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
color=3Dblue face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;color:blue'>David</span></fon=
t><o:p></o:p></p>
</div>
<blockquote =
style=3D'margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt'>
<p class=3DMsoNormal =
style=3D'mso-margin-top-alt:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:.5in'><font size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;
font-family:Tahoma'>-----Original Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b> Eric Couch
[mailto:vecouch@bordenhamman.com]<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> =
</span></font><st1:date
Month=3D"10" Day=3D"29" Year=3D"2003"><font size=3D2 face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>Wednesday, October 29, =
2003</span></font></st1:date><font
size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;font-family:Tahoma'> </span></font><st1:time
Hour=3D"16" Minute=3D"48"><font size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;
font-family:Tahoma'>4:48 PM</span></font></st1:time><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'><br>
<b><span style=3D'font-weight:bold'>To:</span></b>
'ltc-sales_discussions@ltpcalums.com'<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> =
[LTC-Sales_Discussions]
LTC claims time</span></font><o:p></o:p></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D4 =
color=3Dblue
face=3DGaramond><span =
style=3D'font-size:13.5pt;font-family:Garamond;color:blue'>Where
does one find out which companies have a <strong><b><font =
face=3DGaramond><span
style=3D'font-family:Garamond'>history of paying claims & which =
don't</span></font></b></strong>?</span></font><o:p></o:p></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D4 =
color=3Dblue
face=3DGaramond><span =
style=3D'font-size:13.5pt;font-family:Garamond;color:blue'>Also,
I've repeatedly <strong><b><font face=3DGaramond><span =
style=3D'font-family:
Garamond'>heard rumor</span></font></b></strong> & I stress rumor =
that <strong><b><font
face=3DGaramond><span style=3D'font-family:Garamond'>GE LTC has =
had a problem
paying claims</span></font></b></strong>. I find that hard to =
swallow and
would love input on it & where this is coming from. Opinions =
are
great, but <u>I'm looking for documented =
facts</u>.</span></font><o:p></o:p></p>
</div>
<p style=3D'margin-left:.5in'><font size=3D2 color=3Dpurple =
face=3DGaramond><span
style=3D'font-size:10.0pt;font-family:Garamond;color:purple'>Make it
SIMPLE. Make it CLEAR. Make it HAPPEN.</span></font><font =
size=3D2><span
style=3D'font-size:10.0pt'> <br>
</span></font><font size=3D2 color=3Dnavy face=3DGaramond><span =
style=3D'font-size:
10.0pt;font-family:Garamond;color:navy'> &nb=
sp; &nbs=
p;
-<b><span style=3D'font-weight:bold'>V. Eric Couch, CSA, =
CLTC</span></b> &nbs=
p;  =
; =
&=
nbsp; &n=
bsp;
</span></font><font size=3D2><span style=3D'font-size:10.0pt'><br>
</span></font><font size=3D2 color=3Dnavy face=3DGaramond><span =
style=3D'font-size:
10.0pt;font-family:Garamond;color:navy'> &nb=
sp; &nbs=
p;
vecouch@bordenhamman.com </span></font><font size=3D2><span
style=3D'font-size:10.0pt'><br>
</span></font><font size=3D2 color=3Dnavy face=3DGaramond><span =
style=3D'font-size:
10.0pt;font-family:Garamond;color:navy'> &nb=
sp; &nbs=
p;
800-492-9190 ofc</span></font><font size=3D2><span =
style=3D'font-size:10.0pt'> <br>
</span></font><font size=3D2 color=3Dnavy face=3DGaramond><span =
style=3D'font-size:
10.0pt;font-family:Garamond;color:navy'> &nb=
sp; &nbs=
p;
Annuity & Long Term Care Marketing</span></font><font size=3D2><span
style=3D'font-size:10.0pt'> </span></font><font size=3D2 color=3Dnavy =
face=3DGaramond><span
style=3D'font-size:10.0pt;font-family:Garamond;color:navy'>Co-Dir.</span>=
</font><o:p></o:p></p>
</blockquote>
</div>
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