What Gives ......?????

[WinoBlues]

I was the agent on one as well. Owner/exwife was playing games paying the premiums. Sending late payments, Not signing the checks, sending in empty priority envelopes and such. It happened to be a company that I work with that bends over backwards to help the clients. They had a partial payment in suspense for a couple months when he died in an auto accident. I had called her a dozen times on all the "errors" and had to provide phone records. They wound up settling on a lapsed policy. With a provision that I get a release of liability as well.

We still help but document everything.

I had a doctor client. I wrote $500,000 term life on him. He was always late on the semi annual premium. I would send him a letter, if still not paid, I would call his office and leave a message. This went on for several years. Several times, we had to get the policy re instated.
One morning, I'm reading our daily paper and on the front paper is an article about his airplane being struck by lightening in Montana. The doctor was killed along with one of his children.
When I got to work, I called the ins co to find out if the policy was active. Nope, canceled.
Several weeks go by. I get a telephone call from an attorney wanting to know if this life policy was active. I tell the attorney no. The attorney then says to me, "why did you allow this policy to lapse?"
So I explained to the attorney this was a normal pattern for the doctor. The doctor ignored the premium notices from the company, ignored my letter, ignored my tele msg.
Never heard any more after this telephone call.

 

[almostintears]

Ohhhh .... thanks for the info all the posts make perfect sense now. I couldn't see where she would be losing money by me chasing after payments but I do see the legal implications by me calling before they are actually due.

Thanks

 

[LGilmore]

Another thing to consider is some people when called to be reminded to pay their bill, might take exception to the call. They may not like it, if they aren't late. if someone were calling me monthly reminding to pay a bill. I wouldn't be a client long.

 

[almostintears]

Another thing to consider is some people when called to be reminded to pay their bill, might take exception to the call. They may not like it, if they aren't late. if someone were calling me monthly reminding to pay a bill. I wouldn't be a client long.

I was only calling those (about 10 people) that I had asked from the previous month.... I called in March telling them they were past due and then asked if they wanted me to call them in April as a reminder before the company tacked on the $10 late fee. It was just a heads up for the same people that I was noticing paying the $10 late fee consistently.

 

[tomcole]

I had a doctor client. I wrote $500,000 term life on him. He was always late on the semi annual premium. I would send him a letter, if still not paid, I would call his office and leave a message. This went on for several years. Several times, we had to get the policy re instated.
One morning, I'm reading our daily paper and on the front paper is an article about his airplane being struck by lightening in Montana. The doctor was killed along with one of his children.
When I got to work, I called the ins co to find out if the policy was active. Nope, canceled.
Several weeks go by. I get a telephone call from an attorney wanting to know if this life policy was active. I tell the attorney no. The attorney then says to me, "why did you allow this policy to lapse?"
So I explained to the attorney this was a normal pattern for the doctor. The doctor ignored the premium notices from the company, ignored my letter, ignored my tele msg.
Never heard any more after this telephone call.

Sad... but its very true.... I can't understand why people do this kind of odd things with there own...