Insurance don't want to pay out for anything, ever. Tree falls on your house during a bad storm, explicitly covered by your insurance? They'll drag it out for months or longer before you see anything.
Fun part is that insurance should be going after Big Pharma after paying out because that is their priority as an insurance company.
Correct. Ed Dowd who wrote the book Died Suddenly is saying the whispering among insurance types is growing. Actuaries are very precise at what they do. All of a sudden people start dropping before estimated time?
I knew working in insurance during Covid this would be the outcome. Fun fact, a question on a life insurance application asks if your child has taken add/adhd medicine before the age of 9. It affects their ability to get a policy. What does taking those meds before the age 9 do to the body that lessens the chance the person will make it to 65?
My friend was a claims adjuster for State Farm. He would get dinged if he didn’t pay out what was promised in the contract. That wasn’t his problem. If losses were too high the actuaries got dinged.
I’ve had cars totaled and payouts exceeding the value of the car. (I’ve also fought and gotten +50% what was offered from other insurance companies)
When I had cancer, there were a few times the hospital had to get things approved. Eventually they just got the entire treatment plan approved instead of one off approvals. It wasn’t too bad.
If your insurance company doesn’t want to make good on your claim, find a different insurance company and stop buying the cheapest insurance you can find.
Insurance companies not wanting to go bankrupt from payouts are NOT baffled.
It’s either pharma or insurance corps
ROUND 1: FIGHT
Insurance don't want to pay out for anything, ever. Tree falls on your house during a bad storm, explicitly covered by your insurance? They'll drag it out for months or longer before you see anything.
Fun part is that insurance should be going after Big Pharma after paying out because that is their priority as an insurance company.
Correct. Ed Dowd who wrote the book Died Suddenly is saying the whispering among insurance types is growing. Actuaries are very precise at what they do. All of a sudden people start dropping before estimated time?
I knew working in insurance during Covid this would be the outcome. Fun fact, a question on a life insurance application asks if your child has taken add/adhd medicine before the age of 9. It affects their ability to get a policy. What does taking those meds before the age 9 do to the body that lessens the chance the person will make it to 65?
There’s a book out called died suddenly by Dowd ?
Wrong title. It’s died suddenly
https://www.amazon.com/Cause-Epidemic-Sudden-Childrens-Defense/dp/1510776397
Depends on the insurance company.
My friend was a claims adjuster for State Farm. He would get dinged if he didn’t pay out what was promised in the contract. That wasn’t his problem. If losses were too high the actuaries got dinged.
I’ve had cars totaled and payouts exceeding the value of the car. (I’ve also fought and gotten +50% what was offered from other insurance companies)
When I had cancer, there were a few times the hospital had to get things approved. Eventually they just got the entire treatment plan approved instead of one off approvals. It wasn’t too bad.
If your insurance company doesn’t want to make good on your claim, find a different insurance company and stop buying the cheapest insurance you can find.