Insurance Company Deny Benefits
I know this is not life insurance related but it scared me so much that I had to post about it. I just read a press release (you can see the full item at the link below) about Senior Health Insurance Company of Pennsylvania (SHIP) and how they are refusing to pay out on thousands of long term care insurance. It seems that everyone affected is in California and basically the company are not playing fair.
They are telling untruths, half truths and in some instances down right lies, then they are using the other method of saving money that many insurance companies use. They are asking for so much paperwork that it takes far to long for any claims to ever get paid. Remember these people are old and infirm (this is long term care after all) and I imagine some of them pass away before any of it gets resolved.
This is all great for the insurance company as the less claims they approve the less they pay out but what about the people who bought their insurance policy in good faith? From what I understand they may have finally met their match, when they messed with a ex Colonel who was awarded a purple heart in Korea. I hope this is true as one of the things I really worry about when I am looking for any kind of insurance (whether it is life insurance, health insurance or even auto insurance) is will the company hold up their end of the deal when I need them.
Read the rest of the news about this law suit, and I would avoid buying any insurance from SHIP !
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