Income Protection Insurance

[vp1959]

Thanks Computerflyer....

If my friend wishes so, I will advocate for him on this matter. With daily chemotherapy, I don't think he can manage this battle by himself.

I will keep you posted.

[computerflyer]

With that information in hand, I add: I would have and still would send them a pretty strong "please explain" demand letter.

If you are into doing things because, perhaps push the issue they have to change their PDS since they cannot manage to abide by it, and it therefore misleading advertising - and go from there to see where it might lead. As good as a game of chess for those so inclined.

[vp1959]

Update.

My friend did receive his cheque in the post on Friday as promised but was unable to bank it as he got home too late from treatment.

However, this is from ING's Supplementary Product
Disclosure Statement (30 November 2009).

"The waiting period is the period you must wait before the Income Benefit becomes payable under your policy. When you apply for a policy you can choose either a 30 day or 90 day waiting period. The waiting period you have chosen is shown on your Policy Schedule.

The waiting period starts the day you consult a medical practitioner or the date from which a medical practitioner certifies that you are disabled."

My friend opted for the 30 day waiting period when he took out the policy. In view of this, ING have breached their own PDS. From my calculations, my friend should have received his first payment in the week starting 11 January, not 5 February.

Almost a month later? If I paid my insurance premium 4 weeks late, I wouldn't be insured! Sorry folks, but it's all one way traffic with this mob.

[computerflyer]

While I am Very Sympathetic, is it that simple?

Insurance of any type is a commercial and not social or moral transaction. Most income protection policies do not kick in for some weeks or even months before they are obligated to begin payments once the policy holder is incapacitated. Getting payments started is often frustrating, but then usually routine.

Is "the cheque's in the mail" meaning they informed "it is being processed" or was that meant to be their literal answer? If the latter, it would indeed be the same processing time to start cheques or direct deposits.

[vp1959]

This post is submitted on behalf of a friend who is internet ignorant.

He was diagnosed almost 9 weeks ago with an agressive form of cancer and required immediate medical treatment and subsequently unable to work. A claim for was submitted by him to ING a few days after diagnosis.

As of Thursday this week (4 Feburary) he has not received one cent from this insurer, with the false promise of "the cheque's in the mail". When he requested that a direct deposit to his bank account would be a better option, he was given the excuse "It would take the same amount of time". What a load of rubbish! Typical insurance company, with their hands out immediately when YOU owe them money, but when it's time for them to fork out....well just keep waiting.

In the meantime, my friend has had to beg, borrow and steal from family and other friends to try and keep a roof over his head, feed himself and his teenage daughter and purchase school equipment for her. As a result, he is behind in rent by several weeks, adding to the already stressful situation of having a potentially fatal medical condition.

Thank you ING - for LESS THAN NOTHING!