We often get calls from life insurance policy beneficiaries whose claims are denied because their deceased loved ones failed to properly “port” or “convert” their employment-based life insurance coverage. Porting or converting life insurance coverage involves moving coverage from the employer group policy to a private policy when employment terminates. Victims Are Commonly Mis The Tricky Provisions for ‘Por
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Our recent client received a denial letter in the mail for that very reason.
Our client, Susan, and her husband, Jack (not their real names), got the devastating news that Jack had terminal cancer with minimal time to live. Jack went on disability benefits for a while before dying; meanwhile, his employment was terminated, as it was clear he wouldn’t be returning to work. They told Jack’s employer and the insurer they did not want to “miss any steps” to convert his life insurance coverage to an individual policy. They were told everything was in place and that they needed to pay their life insurance premium to the employer, who would pay the insurance company to keep coverage in effect. They did everything they were told and believed all life insurance coverage for Jack remained effective.
A summer garage sale is a tried and tested way to earn a little cash while eliminating things you no longer need. But it’s also the perfect opportunity for parents to teach their children a few life lessons. Making your garage sale a family project can teach kids about organization, money management, and the pride of a hard day’s work. The lessons start immediately as your family determines what they no longer need. Younger children, in particular, often struggle to part with their possessions. A garage sale is an opportunity to discuss what they use, what they don’t, and why we can’t keep every object we own forever. This process will teach kids organization as they create their “keep,” “sell,” and “toss” piles. On the big day, your children can also play a significant role in organizing and displaying your merchandise. Kids can help determine which items should share a table and what should be front and center to catch buyers’ eyes. Math and money management also play a pivotal role in any successful garage sale. First, you must determine what the items you’re selling are worth. While letting your kids set prices is probably unwise, you can help them understand market value and what people will pay for used merchandise. Your children can take a more active role in the sale itself. Depending on their ages, they can gain valuable experience making change for customers or negotiating a deal on the items for sale. The best part of using your garage sale as a learning opportunity is that your children can personally experience the value of hard work. They’ll watch their old possessions disappear and the cash trickle in. More than anything, they’ll probably love adding up the day’s takings. Whether or not you give your kids a cut of the earnings is up to you. But even if they don’t end up with fatter pockets, your children will walk away from the family garage sale with lessons that will last longer than any extra cash could. What Your Summer Garage Sale Can Teach Your Kids
Imagine Susan’s dismay upon receiving the life insurance denial letter — a second gut punch while still reeling from her husband’s death.
Does your office turn away calls about “long-term disability insurance” claim denials because you don’t handle administrative appeals or “ERISA litigation” in federal court? We want to hear from you! We happily share fees on referred ERISA long-term disability, life insurance, and accidental death insurance denial cases. Send us an email at BriefRecess@jpricemcnamara.com or call (225) 201-8311 to start the referral process! WE VALUE YOUR REFERRALS!
ERISA is all we do!
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