Reviews by scounselor

scounselor says "Don't use them!" about Principal Financial Group IRA

scounselor — Wed, 03 Dec 2008 19:51:50 GMT

This company doesn't honor their group LTD policies. I breezed through Aflac claiming on my STD benefits. I even breezed through the Social Security Administration and got approved for disability on my initial application. The Senior Claims Rep., Justin Schaack, assigned to my LTD claim with this company was rude and discouraging when I applied for benefits under the policy I had with them. And I STILL haven't collected any money on the group LTD policy I signed up for through my employer years ago! My LTD policy through this company was supposed to start paying me 90 days from the onset of my total disability. I'm now 14 months out of work and living on Social Security benefits and they STILL haven't approved my claim for LTD benefits through my employee benefits policy. I've had to sign away 50% of the back benefits they already owe me to an ERISA attorney to handle my appeal! They are corrupt and will act in bad faith when it comes to claims filed. They're......

scounselor says "If you ever file a claim, expect the fight of your life!" about Principal Group

scounselor — Wed, 03 Dec 2008 19:11:59 GMT

How sure are you that you have adequate insurance coverage in the event of a disabling accident or illness? Don't wait until after you suffer a disabling accident or illness to educate yourself about STD and LTD policies and companies!

Many companies offer their employees benefits packages that include health and dental coverage, LTD, STD, and additional life insurance at group or individual rates. While the group rates on some of this coverage appears very affordable, and certainly has attractive rates, you should consider the downside of opting into these group rate policies BEFORE you may need to collect on one.

Group rate policies are governed by a different set of laws than the policies you take out on an individual basis. Group rate policies are all governed by ERISA Federal Law. They are not governed by the insurance laws of the particular state you reside in.

ERISA law has some very important loopholes that you should be aware of...

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