How Did This Story Not Get More Press Coverage?
I'm surprised this didn't get more press coverage. These findings are awful:
"An investigation by the department’s Employee Benefits Security Administration found United often accepted premiums for years without determining if insurability requirements were satisfied, causing participants and their beneficiaries to believe they had coverage. After the participant died, United would then often deny claims for benefits on the grounds the company never received the participant’s evidence of insurability, leaving their beneficiaries without life insurance benefits for which their loved one had paid."
"The settlement reached by the department’s Office of the Solicitor gives United 90 days after it receives a participant’s first premium payment to determine whether the participant has satisfied any applicable evidence of insurability requirements. After the 90-day period expires, the company cannot deny a claim for life insurance benefits for reasons related to evidence of insurability. These requirements also apply to United’s parent company — Mutual of Omaha Insurance Co. — and United’s subsidiary, Companion Life Insurance Co."
https://www.dol.gov/newsroom/releases/ebsa/ebsa20230929
submitted by /u/JoeGentileESQ
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