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Re: UNUM's response

Posted by Bo Sanders on November 21, 2002 at 09:08:49:

In Reply to: Re: UNUM's response posted by Scott A. Olson, CLTC on November 20, 2002 at 01:52:24:

: Gary, you ask, 'if the charges are so unfounded, why then wouldn't a representative of UNUM be interviewed on 60 minutes to counteract the allegations'? UNUM executives met with the 60 minutes producers SEVERAL times.

: Is the media more concerned about 'truth in reporting' or ratings? 25 years ago, the big 3 networks had a near monopoly. Now, ABC, CBS, and NBC have to compete against scores of cable stations.

: What do you think draws more viewers: a story about the 2% of claims that are denied or the 98% of claims that UNUM pays every year? To put the story in proper perspective, since only 1 claim out of 50 is denied, I think that for every person they interviewed who had a claim denied, they should interview the 49 people whose claims were paid.

: The double-standard is amazing. As an insurance agent, it is against the law for me to 'misrepresent' a policies features and benefits. Yet an 'investigative reporter' can aggrandize and be rewarded with higher ratings. Whatever happened to the responsibility that goes along with the freedom of the press?

: If he was alive today, I'm sure that William Hearst would have been very proud!

: Scott A. Olson, CLTC

: P.S. FYI, I am an independent agent. I am licensed with UNUM. Yet I have recommended UNUM to less than 3% of my clients. I have not recommended UNUM very often, simply because I have found other policies to be a much better value for most of my clients. I am defending UNUM in this post because I believe the charges brought by 60 minutes to be unfounded, baseless, and self-serving. If UNUM is a 'bad insurer' becase they pay 98% of their claims, then EVERY INSURER is a bad insurer.

Scott please UNUM does not pay 98% of there claims first of all!!!! If you really are an expert in Long Term Care Insurance you would know that UNUM does not produce there claim paying rate to the public! John Hancock and GE both release this number to the public. UNUM has always had a different approach to long term care insurance and what we have seen so far is that it might come back to haunt them.

Bo Sanders

Follow Ups:

Re: UNUM's response Scott A. Olson 10:11:25 11/21/02 (5)
- Re: UNUM's response Steve Eads, CLU 12:54:01 11/21/02 (4)
  - Re: UNUM's response Scott A. Olson 13:26:25 11/21/02 (3)
    - Re: UNUM's response Steve Eads, CLU 10:50:31 11/22/02 (0)
    - Re: UNUM's response Steve Eads, CLU 13:39:30 11/21/02 (1)
      - Re: UNUM's response Steve Eads, CLU 09:04:10 11/22/02 (0)

Re: UNUM's response : : Gary, you ask, 'if the charges are so unfounded, why then wouldn't a representative of UNUM be interviewed on 60 minutes to counteract the allegations'? UNUM executives met with the 60 minutes producers SEVERAL times. : : Is the media more concerned about 'truth in reporting' or ratings? 25 years ago, the big 3 networks had a near monopoly. Now, ABC, CBS, and NBC have to compete against scores of cable stations. : : What do you think draws more viewers: a story about the 2% of claims that are denied or the 98% of claims that UNUM pays every year? To put the story in proper perspective, since only 1 claim out of 50 is denied, I think that for every person they interviewed who had a claim denied, they should interview the 49 people whose claims were paid. : : The double-standard is amazing. As an insurance agent, it is against the law for me to 'misrepresent' a policies features and benefits. Yet an 'investigative reporter' can aggrandize and be rewarded with higher ratings. Whatever happened to the responsibility that goes along with the freedom of the press? : : If he was alive today, I'm sure that William Hearst would have been very proud! : : Scott A. Olson, CLTC : : P.S. FYI, I am an independent agent. I am licensed with UNUM. Yet I have recommended UNUM to less than 3% of my clients. I have not recommended UNUM very often, simply because I have found other policies to be a much better value for most of my clients. I am defending UNUM in this post because I believe the charges brought by 60 minutes to be unfounded, baseless, and self-serving. If UNUM is a 'bad insurer' becase they pay 98% of their claims, then EVERY INSURER is a bad insurer. : Scott please UNUM does not pay 98% of there claims first of all!!!! If you really are an expert in Long Term Care Insurance you would know that UNUM does not produce there claim paying rate to the public! John Hancock and GE both release this number to the public. UNUM has always had a different approach to long term care insurance and what we have seen so far is that it might come back to haunt them. : Bo Sanders

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