E
erosep
Guest
What is the name of your state? TEXAS
We are currently collecting disability through my husband's employer sponsored private disability insurance. He is over 60 years of age and does not qualify for the waiver of premium of his life insurance premium and was told that he would have to "port" his coverage by the employer. I spoke with two representatives within the insurance company who assured me that he would be able to port his coverage, and in fact, helped me to complete the paperwork. However, after submitting the appropriate paperwork and payment, the insurance company now states that portability is not available to him because he is still connected to the company, not terminated, retired or working reduced hours. The employer has worked with the insurance company to come up with an alternative plan to make portability available to him because they have already sent us a letter stating that it was available. He is also dealing with a life expectancy issue and this is a fairly large benefit payout on the life insurance.
The insurance company now states that if he disconnects from the company on his 65th birthday, in one month, by retiring, then portability of his life insurance policy would be available to him. My concern is that 1) it will affect his disability status, although it is a separate policy; and, 2) that they will attempt to cancel his life insurance policy somehow once he has completed the formal procedings to retire.
Are there any laws in place that will protect us from being mislead by the insurance company into taking the wrong action, jeopardizing his life insurance coverage? or, his disability coverage, which is a different policy, but the same insurance company?
Is it legal for the companies involved to discriminate regarding age on the premium waiver of the life insurance policy? i.e., if he were under 60 years of age, on disability, still administratively connected to the company - his premiums would be paid and we would not be faced with this situation.
We are currently collecting disability through my husband's employer sponsored private disability insurance. He is over 60 years of age and does not qualify for the waiver of premium of his life insurance premium and was told that he would have to "port" his coverage by the employer. I spoke with two representatives within the insurance company who assured me that he would be able to port his coverage, and in fact, helped me to complete the paperwork. However, after submitting the appropriate paperwork and payment, the insurance company now states that portability is not available to him because he is still connected to the company, not terminated, retired or working reduced hours. The employer has worked with the insurance company to come up with an alternative plan to make portability available to him because they have already sent us a letter stating that it was available. He is also dealing with a life expectancy issue and this is a fairly large benefit payout on the life insurance.
The insurance company now states that if he disconnects from the company on his 65th birthday, in one month, by retiring, then portability of his life insurance policy would be available to him. My concern is that 1) it will affect his disability status, although it is a separate policy; and, 2) that they will attempt to cancel his life insurance policy somehow once he has completed the formal procedings to retire.
Are there any laws in place that will protect us from being mislead by the insurance company into taking the wrong action, jeopardizing his life insurance coverage? or, his disability coverage, which is a different policy, but the same insurance company?
Is it legal for the companies involved to discriminate regarding age on the premium waiver of the life insurance policy? i.e., if he were under 60 years of age, on disability, still administratively connected to the company - his premiums would be paid and we would not be faced with this situation.