Could Use Advice on Accelerated Death Benefit

This is part of a life insurance policy that my parents took out for me in the 1980s. Apparently the company added the Accelerated rider on policies after the fact, because I had no idea I had it.

I have at least 2 terminal medical diagnoses. I received Social Security Disability a few years ago on an accelerated basis because of this. My terminal diagnoses affect almost every organ system in my body — thus, I have something like 20 specialists (patient at Mayo Clinic). One of my diagnoses is a rare lung condition (made worse by a cancer treatment and COVID) which is easily documented as having a life expectancy of less than 2 years. I am on oxygen 24/7 because of it and will likely require a lung transplant. It also affects all other organs. I have chronic ongoing internal bleeding which results in severe anemia.

The main issue is that I was diagnosed with all of this in 2019. I am doing all I can to stay at healthy as possible for as long as possible.

My doctors did not want to assign a prognosis or sign anything. My condition is such that it can change on a dime, and if/when that happens it will go downhill very quickly with devastating results. I finally got one of my hematologists to sign it, but apparently that was not good enough because of everything else going on with me.

I finally sent the insurance company part of my medical records (460 pages, from Mayo). After a long review, I was denied accelerated death benefits.

I am out of money and in debt in a big way. I am going to have to stop many of my treatments at Mayo that are not covered by insurance.

The real issue is that I need the money so that I DON'T die within 12 months. I need it so I can keep on receiving care.

There is no critical illness rider — just the accelerated death benefit. However, they state all over their website that this accelerated death benefit rider "can help with emotional and financial support during hard times". Well, in my experience, it doesn't get much harder than this.

Do I have any options? I hate to sell the policy and get only a fraction of it. I've been paying on this policy for decades, during some very hard times. This is my benefit, correct? Can I file a legal claim? Or should I just keep submitting claims to the insurance company for payment until something happens? I am so depressed and frustrated.

I don't especially like this particular life insurance company because they seem very judgmental. They are a Christian-based company, and they have statements about "proper ethics", etc. Ugggh.

submitted by /u/Whirled-Cabbage
[comments]