40000/400000 Insurance

[FNQ]

Has anyone actually made a successful claim from the 40000/400000.

(O-A insurance)

Edited June 7, 2021 by FNQ

[Sheryl]

O-A insurance is not a brand of insurance. Please specify what company and which policy. Also, do you have a deductible?

[FNQ]

1 hour ago, Sheryl said:

O-A insurance is not a brand of insurance. Please specify what company and which policy. Also, do you have a deductible?

Thanks Sheryl,

It was just a general enquiry to see if any members had actually had a claim paid irrespective of what insurance coy they may have.

[Sheryl]

37 minutes ago, FNQ said:

Thanks Sheryl,

It was just a general enquiry to see if any members had actually had a claim paid irrespective of what insurance coy they may have.

Experiences will vary depending in the insurer. The fact that policies are OA compliant does not make them in any way the same when it comes to claims experiences.

 

A lot of people - perhaps the majority - opt to get a "throw away" high deductible policy (i.e. 200K deductible out of 400K maximum) to meet OA requirement (sometimes then also having a "real" policy that actually insures them but is not considered  OA compliant). In such cases there will almost never be a claim.

 

A few people have Aetna, Pacific Cross or April Thailand (LMG) policies with meaningful levels of cover and no or low deductible and a search on this forum will find varying reports of claims experiences specific to those companies.

[FNQ]

18 hours ago, Sheryl said:

Experiences will vary depending in the insurer. The fact that policies are OA compliant does not make them in any way the same when it comes to claims experiences.

 

A lot of people - perhaps the majority - opt to get a "throw away" high deductible policy (i.e. 200K deductible out of 400K maximum) to meet OA requirement (sometimes then also having a "real" policy that actually insures them but is not considered  OA compliant). In such cases there will almost never be a claim.

 

A few people have Aetna, Pacific Cross or April Thailand (LMG) policies with meaningful levels of cover and no or low deductible and a search on this forum will find varying reports of claims experiences specific to those companies.

So the answer is No.

[Sheryl]

5 hours ago, FNQ said:

So the answer is No.

No, the answer is not "No".

 

the answer is different according to the policy.

 

Many people have made Aetna, Pacific Cross and April Thailand claims.

 

Few would have made claim under other policies.

 

You need to frame your question specific to a policy.