No waiver of premium?

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PostPosted: Wed Jun 03, 2009 10:58 pm   Post subject: No waiver of premium?  

Today I called metlife to ask about the waiver of premium and how I could claim it. They said that option terminated once I left employment due to health issues. The accelerated benefit option stayed on but not the waiver of prem. Is this usual?



They said that option doesn't transfer when going from from group to individual....unless I had already started using it while employed.

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PostPosted: Thu Jun 04, 2009 6:48 am   Post subject:   

Quote:
The accelerated benefit option stayed on but not the waiver of prem. Is this usual?




It may be. Your contract would have the details regarding it.



The WOP or the waiver of premium benefit would let the insured remained covered for a certain period of time when he/she can't afford paying the premium due to illness or disability.



This feature is typically added to the group life policies and would require the employer's confirmation to activate the benefit.



I think the insurer is right about premium waiver. It expires with the group life.



Pa5762, why have to switched from group life to individual life?
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PostPosted: Fri Jun 05, 2009 12:34 am   Post subject:   

Dealing with progression of cancer and used up all 38 weeks of leave so employer of 10 years had to terminate me. So I ported life ins. and pay cobra to keep health insurance.

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PostPosted: Fri Jun 05, 2009 7:07 am   Post subject:   

Okay Pa5762, it seems that you don't have other option but to continue paying the premium on the life plan to keep it active.



Have you contacted your agent about the premium waiver option? Have you checked with the policy contract as mentioned by Rupert?



I'd request an expert to drop-in to this thread. So just hang tight.



By the way, who is the beneficiary of the policy? Can you ask him/her to share some cost of your policy since he/she would be benefited from it at the end?



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PostPosted: Fri Jun 05, 2009 10:31 am   Post subject:   

Hi pa5762,



You must have had a very tough time coping with the challenges in life..



I do empathize with you...and would like to know a few things-



Quote:
unless I had already started using it while employed.


Did the rep. tell you that the benefit would have stayed there if you'd have used it while employed?



Does Metlife cover you for all the medical tests associated with your cancer treatment?



Steven
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PostPosted: Fri Jun 05, 2009 8:45 pm   Post subject:   

Hello Steven!



Yes, the ins. rep did say I would have to have already started using the waiver before I was officially terminated, then it would have just carried on when the policy was ported. The funny thing is I did ask my HR rep about using the waiver long before termination and after I was certified disabled. But the HR rep said the only time they've ever let an employee use the WOP was when they were on long term disability, and I only had short term.??? I didn't push it but should have.



Metlife is only for the life ins. I have aetna for medical same coverage as when employed only I pay the premium (cobra) myself. But it's been good so no complaint there.

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PostPosted: Sat Jun 06, 2009 5:03 am   Post subject:   

Hi pa5762,



Its not quite clear with me-

Quote:
But the HR rep said the only time they've ever let an employee use the WOP was when they were on long term disability, and I only had short term.???


If you had short term, how would it have got ported if you used it prior to your termination?



I guess it would have lapsed anyway before renewal. I have this feeling that either they are not sure..or else there's some communication problem.



Quote:
I have aetna for medical same coverage as when employed only I pay the premium (cobra) myself. But it's been good so no complaint there.


One of my friends had a smooth claims experience with Aetna once he paid up his deductibles. Any waivers there with Aetna?



Steven
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PostPosted: Sat Jun 06, 2009 5:35 am   Post subject:   

Hi Pa5762,



Quote:
But the HR rep said the only time they've ever let an employee use the WOP was when they were on long term disability, and I only had short term.???




How did the HR rep arrive at this idea? Haven't you had doctors report to support that your disability should be considered as long term?



You surely should have pushed this issued. May be it could have suggested some course of action for you.
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PostPosted: Sat Jun 06, 2009 6:06 am   Post subject:   

Typically with the Waiver of Premium for a life insurance policy, one has to be totally disabled for 6 months. This means that if you were still collecting short term disability you weren't disabled long enough to be eligible for the waiver of premium.

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PostPosted: Sat Jun 06, 2009 6:24 am   Post subject:   

Hey PA5762..



Quote:
But the HR rep said the only time they've ever let an employee use the WOP was when they were on long term disability, and I only had short term.???


Did you really have short term disability?

Then I guess there would have been no point in pushing it..



Quote:
The funny thing is I did ask my HR rep about using the waiver long before termination and after I was certified disabled.


So does it mean that you didn't obtain this certificate before termination?

It seems as if there was a gap between your getting terminated and obtaining the certificate.

Please explain.. Roddick
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PostPosted: Sat Jun 06, 2009 6:25 am   Post subject:   

Quote:
This means that if you were still collecting short term disability you weren't disabled long enough to be eligible for the waiver of premium.




If she was collecting on the short-term disability coverage, she was disabled according to the terms of the disability contract. I don't know of any WOP riders/provisions that state you can't use the rider if you're collecting from a disability contract elsewhere. Most waiver of premium riders have language requiring the insured meet certain requirements, typically that they can't work in either their own or any occupation, depending on the language, and that they're disabled past the waiting period, commonly 90-180 days.



Then the rider kicks in, typically refunds the premiums paid during the waiting period and begin paying the premium as it becomes due. Some companies limit how long they'll pay the premium and other's won't. Whatever, it doesn't matter if she's collecting DI, the rider will still pay if she meets the terms of disability as outlined in the rider.



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PostPosted: Sat Jun 06, 2009 8:11 pm   Post subject:   

Insurance Teacher, I'm not sure that I made myself clear in my post. My point wasn't that collecting on DI would influence whether she could collect on the WOP. Rather, I was just pointing out that if she was collecting on short-term DI she probably wouldn't be at the point where she was out long enough to satisfy the waiting period to collect on the WOP.

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PostPosted: Sat Jun 06, 2009 8:49 pm   Post subject:   

I understood that I would have had to be disabled and had to be out of work for 180 days for the wop to be initiated. So I met all the criteria, was using my short term disability from Sept 08 till it ended on March 09. I didn't purchase the long term disability option but SSDI kicked in and started paying in March 09. Thank goodness my physician advised me back in August to apply for that otherwise I'd be one big hole! Then I was officially terminated in April.



I started inquiring about the wop in Jan, Feb but I really don't think HR knew what they were doing since I couldn't get a straight answer except that the only time an employee has used it is when they were on Long term disab. Well so what, I didn't purchase that benefit and I was still not able to return to work and just wanted to see if the I could tap the WOP. But no....it didn't happen and I let it go to deal with other issues.



My HR was great with me about everything else but it seems they just don't "offer" information that could save a person a few bucks like the WOP. Apparently they haven't dealt with it enough to know how to administer it.

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PostPosted: Sat Jun 06, 2009 8:54 pm   Post subject:   

I know I couldn't have started using the WOP unless the conditional waiting period was up (the 180 days) but I was doing the inquiry with HR so I would know what had to be done.

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