Frenchie wrote:The moral of this story: read the fine print!!
I agree 1,000 % my friend.
I am no real friend of InsCo's, because of my own personal experiences.
I have insurances but try to read the fine print !
With what you have posted, others may have hit on the issue :
policies have defined weasel clauses and we need to find them and sort them out.
I have consulted lawyers, insurance brokers and friends in the industry and sometimes you just get caught in the net.
I would still talk to the folks who sold you the policy ( broker or corporate group if it is a work related / HR administered policy ? )
I would try to discuss "compassionate payout" options but keep paying premiums !
Consider asking for InsCo to convert the policy to your wife's benefit / name so she would have her own policy for down the road without them having to pay out now ?
I would also consider an "ombudsman" approach or letter to the Superintendent of Insurance ( Canada or Provincial )
If you want to expend the energy, a media watchdog
program ( Marketplace, CBC national - forget who the pitbull is but I like her ?????, local media ??? ) may be in order ?
Other options :
- there are Insurances available for "anyone" with no medical required .. may be an option if you want to top up an amount ?
- there are mortgage and loan insurances available = mortgage the house, use the cash, pay the insurance, insurance pays out on the outstanding mortgage later when you are not here. At current rates the monthly payments could be attractive and funded by the cash from the loan ?????I WOULD consult a lawyer
on this one, but have suggested it to others when they could not pay their medical bills in the USA. We tend not to have that particular problem up here ... BUTT any advantage you can have when dealing with these kinds of considerations .... Use'm.
Be creative and don't accept just 'cos you didn't see the clause originally, that you are stuck and just have to accept it.
Look for options and offer the InsCo a solution and just keep bugging them ... IF that is your style !
Nothing to lose my friend, but that just may be me, and I am a shit disturber sometimes !
(( still planning the next assault on the RV .... ))