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Re: [RC] [RC] heads up:)/"we've got you covered" if it seems too good to be true, it just might be - Sisu West Ranch

My dad was in the insurance industry for 40 years.  He ended his career as an executive with a major life insurance company, but had studied the insurance industry as a whole in their continuing education program. 
 
His take was that the only area of insurance where the companies would consistently pay off the face amount was in the life insurance area.  Apparently, even lawyers can easily agree that you are either alive or dead, and that if you are dead the state will issue a piece of paper that proves this.
 
On the other hand, when reading other policies (and the other provisions of a life policy), you should do it very carefully and assume that all clauses will be interpreted in a manner most favorable to the company, and least favorable to the owner of the policy.  My readings of the US Rider incidents reported here reinforces my dad's somewhat cynical take on the insurance industry.
 
There is a very large body of case law covering all sorts of disputes between insurers and policy owners.  This is the reason that most policies are very long, in fine print, and contain words and phrases that are hard to understand.  This is the result of company lawyers attempting to stop a potential lawsuit from using the results of hundreds of judicial decisions against them. 
 
 
Ed
Ed & Wendy Hauser
2994 Mittower Road
Victor, MT 59875
 
(406) 642-9640
 
ranch(at)sisuwest(dot)us

Replies
RE: [RC] heads up:)/"we've got you covered" if it seems too good to be true, it just might be, Karen Standefer
RE: [RC] heads up:)/"we've got you covered" if it seems too good to be true, it just might be, Dolores Arste
Re: [RC] [RC] heads up:)/"we've got you covered" if it seems too good to be true, it just might be, Karen Bohn