Based on business calls and other consulting business, connections with attorneys etc., the following are the worst disability insurers in the country.
Unum Group – Unum’s inability to adopt patterns of practice to include fair and equitable claims review continues to identify the company, as John Garamendi in California said in 2004, “a criminal organization.” Downsizing and limiting resources has not resulted in better organization and the company is often in a tailspin state of disorganization and chaos. Claims handlers are unprepared and provide little to no customer service of value. Continued targeting of legitimate claims places Unum Group as the number one worst insurance company in the United States and Great Britain.
Massachusetts Mutual – Unusual for a “mutual stock” company, Mass Mutual’s abrupt change from fair claims practices, “good to awful”, places it as number two in the worst disability insurance companies in America category. Misrepresentation of policy provisions and absolute refusal to pay on legitimate claims places Mass Mutual as second only to Unum Group in the category of “fair and equitable claim” catastrophes.
Not known as a Group insurer, Mass Mutual’s adjudication of IDI claims now requires litigation in order for the company to pay benefits. The company often requests sworn deposition testimony as part of its claims investigations in order to pay benefits. Since its insureds are also stock owners of the company, Mass Mutual’s treatment of those who file claims in unconscionable assuming everyone files for secondary gain. This is a company that requires consumer investigation prior to purchasing any insurance product since its claims reviews are not timely, and disputes concerning policy language erupt requiring litigation.
Guardian/Berkshire – Years ago Guardian was a well-respected insurer, however, in the last few years the company’s claims investigations are the result of arrogance and suspicion. I heard through a well-respected grapevine that Guardian actually checks the FBI’s America’s Most Wanted for their insureds’ names. The reason why I’ve placed the company as number three on the worst company list is because on those occasions when Guardian can’t deny claims on policy adjudication, they jump to destroy credibility as if persons with dirty laundry shouldn’t receive benefits.
Guardian is now the epitome of insurance investigation paranoia, applying its resources to collecting “dirt” on people to deny claims. As I indicated this is enough to place Guardian on DCS’ worst insurance company list as number three.
CIGNA – As a company CIGNA’s claims handlers always seem to NOT be working with a full deck. It’s very difficult to get answers to questions because you never know who to contact. With only “first names” and “Team” file review, it’s difficult enough to figure out who to contact. CIGNA, in my opinion, is by far the worst disorganized disability insurer in the country and rarely makes decisions in a timely way.
In 2015 CIGNA was slapped with a Multi-State Settlement Agreement it never pays attention to. If this company could ever get itself organized with more knowledgeable claims handlers, it may move down on my list. However, CIGNA’s operating style and wrong decision-making keeps the company as a “bottom feeder” insurer.
Prudential Financial – Prudential’s ability to take a set of mental health records and completely misinterpret and misrepresent them puts the company as number 5 on the worst insurer’s list. I’ve found the company to be deceptive in several of its practices such as denying STD within a week of maximum duration in order to NOT meet the EP for LTD policies.
By far, Prudential’s insane expert ability to take a set of records and pull out everything favorable to it at the expense of everything favorable to the insured is remarkable enough to consider the company as deceptive. Prudential never did have a good public reputation for fair review of claims, and it shows in the egregious denials the company renders.
This is the first time I’ve place two IDI insurers on the top five worst list, leaving off Sun Life, Aetna, and DMS.
The top five BEST insurers in the United States are: Principal, and Northwestern Mutual. Please note there are no “best” ERISA Group insurers in the United States. They are all equally terrible.
