I recently saw a disturbing 60-Minutes segment called “Not Paid”. Disturbing to me was the lesson that life insurance companies who collect millions of dollars in premiums for death benefits Do Not Pay when a policy holder dies UNLESS the beneficiary specifically contacts the insurance company and makes a claim. WHAT??? Are you kidding??? Huh. Is this an ethical dilemma or what? Apparently this is not a joke, as this is quite common that beneficiaries do not know there is a policy. The attitude of insurance companies is that these policies are contracts and the beneficiary has to follow the terms of the contract. In other words, they have to read the fine print and make a claim to get their →
Archive for August 31st, 2016
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