Gunship
30th Oct 2002, 12:16
I think we / you can all learn a lesson here and I think it is very important to all us in the flying community.
I have / had a policy with Liberty Life, a South African life insurance company. It was a straight life policy with flying coverage on it as well. This policy was for quite a substantial (I type this on Word Pete’s Dragon – therefore the correct spelling !) amount of money. I had it for over two years and the flying portion more than tripled the policy’s monthly payment.
I must make it clear that I slipped up, but usually if you slip up on a policy for a month or even two or three things can easily be rectified. I do internet banking from West Africa – and without my knowledge (or my wife telling me) the policy‘s price went up (yearly increase). So I paid one month a bit late and one or two month’s I paid but a R100 odd rand too little.
When I found out about it (letters and the insurance agent phoning me) – it was basically already too late. Liberty decided I was a risk and they are not going to renew the policy. I also made a fatal mistake by making an immediate payment and I actually was in advance with a payment.
This raised questions with them as to my sudden interest in the policy – why suddenly in advance when the computers told them I have not paid (paid the correct amount). So the end result was that they saw their way out of this policy … forget about the old days of re-instating .. These guys DO NOT want business with high risk work like ours and that was the bottom line. Friends and family tried but to no avail.... closed doors !
What was also frightening was inside info … not only Liberty Life but ALL the major companies has doctors employed especially to make sure the policy does not pay out when you DIE ! That got you sitting upright hey 4HP ? :D
Yes, that is the frightening part of it all – these doctor’s will go after your death into your files and if you did not put on file that you had the old penicillin injection after a trip to Dar es Salaam .. mate your spouse / mom or dad will not receive the old bucks. Their whole attitude is that you lied and even how small – you have lied and it is fraud and the policy will NOT pay out !
Comments welcome and if there are any insurance agent on this forum – show your face and say your say – especially if you are from Liberty Life !
I have / had a policy with Liberty Life, a South African life insurance company. It was a straight life policy with flying coverage on it as well. This policy was for quite a substantial (I type this on Word Pete’s Dragon – therefore the correct spelling !) amount of money. I had it for over two years and the flying portion more than tripled the policy’s monthly payment.
I must make it clear that I slipped up, but usually if you slip up on a policy for a month or even two or three things can easily be rectified. I do internet banking from West Africa – and without my knowledge (or my wife telling me) the policy‘s price went up (yearly increase). So I paid one month a bit late and one or two month’s I paid but a R100 odd rand too little.
When I found out about it (letters and the insurance agent phoning me) – it was basically already too late. Liberty decided I was a risk and they are not going to renew the policy. I also made a fatal mistake by making an immediate payment and I actually was in advance with a payment.
This raised questions with them as to my sudden interest in the policy – why suddenly in advance when the computers told them I have not paid (paid the correct amount). So the end result was that they saw their way out of this policy … forget about the old days of re-instating .. These guys DO NOT want business with high risk work like ours and that was the bottom line. Friends and family tried but to no avail.... closed doors !
What was also frightening was inside info … not only Liberty Life but ALL the major companies has doctors employed especially to make sure the policy does not pay out when you DIE ! That got you sitting upright hey 4HP ? :D
Yes, that is the frightening part of it all – these doctor’s will go after your death into your files and if you did not put on file that you had the old penicillin injection after a trip to Dar es Salaam .. mate your spouse / mom or dad will not receive the old bucks. Their whole attitude is that you lied and even how small – you have lied and it is fraud and the policy will NOT pay out !
Comments welcome and if there are any insurance agent on this forum – show your face and say your say – especially if you are from Liberty Life !