I paid my premium's for 25 years, and have been receiving ltd monthly. Benefits since 2002, 14 years, I definitely have some issues, I was told by 3 dr.'s it was time for me to get my ducks in a row, I had a few months to live. Needless to say I was really sick. Due to the prognosis I decided to take a lump sum of my retirement benefits just like everybody should do especially if your dying. I received the lump sum called Standard Insurance Company (SIC)-(appropriate-ah?), called my friendly analyst asked him to refund my PERS monies that they have been offsetting since 1/1/2005, 11 years at $400 a month this was 1/1/2012. He said whaaat?Are you crazy you are required to turn over your PERS. I said ok, hungup. I
found out later the policy had amendments? I had never heard of them? Maybe since my policy was so old there have been changes that applied to my policy. called back ASAP...talk with same person, oh, no, they don't apply to your policy, besides do you want copies where there is so many you would have a semi in front of your house? Yes I said, I called another famous senior analyst for WA State, he said you don't need them none of them apply to your policy honestly I would not lie. I asked for copies anyway. After 5 months I called the person that oversees the contract in HCA/PEBB LTD Office to send the amendment's, she stated no problem. In a month I had all 23 amendments, she asked the person at
Standard I did to send them to her, oh he sent me copies too after she did. Well, guess what? I found out why I could not see them, amendment number2 was a jewel, it stated if you take a lump sum and it is all your own contributions it is excluded from Deductable Income!!! Plus, the next seclusion was if your under 62-65 you do not need to apply for retirement benefits!!! And last but not least you do not need to apply for retirement benefits PERS2 or PERS3, until you are ready. Wow! I immediately called my analyst he sent me a denial letter from my request in January in July finally stating the lump sum was retro retirement benefits? I fell off my chair called him after I had sent him an printout from
Department Retirement Systems (DRS) explains it was my contributions. I even had a person call him from DRS to explain to him what a lump sum was. Well..., I received another denial letter a month letter stating I was right but still wrong as it was my contributions but I did not meet the exclusion of a small retirement benefits under $50? Does that make sense? I was too sick to go on, I did not realize you can find out you were wrong on one denial letter so you can send another? I had already asked for a review. Did not hear anything that was in 2012, I just decided to get my money back again so I'm waiting to hear from the appeals unit now. That's not all! My policy states I have a 6% COLA, I have
never received anymore in one month for a COLA than $100 in one month? Since 2002? I was looking at my COLA calculations as I requested a print out of my history at Standard. I know the COLA factors were incorrect by 10-15 thousands, but I was really shocked to realize my COLA factors have never been compounded year to year!!!! That means say I had a COLA factor for 4% in 2002, the next year 2003 it was 3%. The $80 for the 4% from the pervious year was dropped it was not carried year to year? The new total for 2003 was less then the previous year's ltd monthly benefit? Crazy? They have not compounded any of the COLA factors from year to year? I kept wondering why I felt like I
was absolutely broke all the time. I called them of course for them to compound and fix the COLA calculations they are all wrong. The new analyst said she sent the PERS reimbursement and the COLA issues to the appeals unit together. Yippie! That was 3 weeks ago, I want pain and suffering for hurting my credit half my benefit has been missing it's the difference of 3 to 6 thousand a month. Maybe I can pay my bills I am really sad that this company is so corrupt, I have been so ill I never knew how I was being abused and ripped off. I want $100 a day for how long I waited for the amendments after the first 30 days, 9% interest compounded yearly, pain and suffering. I can say I know the policy front and back now.
Standard Insurance Company Reviews
I paid my premium's for 25 years, and have been receiving ltd monthly. Benefits since 2002, 14 years, I definitely have some issues, I was told by 3 dr.'s it was time for me to get my ducks in a row, I had a few months to live. Needless to say I was really sick. Due to the prognosis I decided to take a lump sum of my retirement benefits just like everybody should do especially if your dying. I received the lump sum called Standard Insurance Company (SIC)-(appropriate-ah?), called my friendly analyst asked him to refund my PERS monies that they have been offsetting since 1/1/2005, 11 years at $400 a month this was 1/1/2012. He said whaaat?Are you crazy you are required to turn over your PERS. I said ok, hungup. I
found out later the policy had amendments? I had never heard of them? Maybe since my policy was so old there have been changes that applied to my policy. called back ASAP...talk with same person, oh, no, they don't apply to your policy, besides do you want copies where there is so many you would have a semi in front of your house? Yes I said, I called another famous senior analyst for WA State, he said you don't need them none of them apply to your policy honestly I would not lie. I asked for copies anyway. After 5 months I called the person that oversees the contract in HCA/PEBB LTD Office to send the amendment's, she stated no problem. In a month I had all 23 amendments, she asked the person at
Standard I did to send them to her, oh he sent me copies too after she did. Well, guess what? I found out why I could not see them, amendment number2 was a jewel, it stated if you take a lump sum and it is all your own contributions it is excluded from Deductable Income!!! Plus, the next seclusion was if your under 62-65 you do not need to apply for retirement benefits!!! And last but not least you do not need to apply for retirement benefits PERS2 or PERS3, until you are ready. Wow! I immediately called my analyst he sent me a denial letter from my request in January in July finally stating the lump sum was retro retirement benefits? I fell off my chair called him after I had sent him an printout from
Department Retirement Systems (DRS) explains it was my contributions. I even had a person call him from DRS to explain to him what a lump sum was. Well..., I received another denial letter a month letter stating I was right but still wrong as it was my contributions but I did not meet the exclusion of a small retirement benefits under $50? Does that make sense? I was too sick to go on, I did not realize you can find out you were wrong on one denial letter so you can send another? I had already asked for a review. Did not hear anything that was in 2012, I just decided to get my money back again so I'm waiting to hear from the appeals unit now. That's not all! My policy states I have a 6% COLA, I have
never received anymore in one month for a COLA than $100 in one month? Since 2002? I was looking at my COLA calculations as I requested a print out of my history at Standard. I know the COLA factors were incorrect by 10-15 thousands, but I was really shocked to realize my COLA factors have never been compounded year to year!!!! That means say I had a COLA factor for 4% in 2002, the next year 2003 it was 3%. The $80 for the 4% from the pervious year was dropped it was not carried year to year? The new total for 2003 was less then the previous year's ltd monthly benefit? Crazy? They have not compounded any of the COLA factors from year to year? I kept wondering why I felt like I
was absolutely broke all the time. I called them of course for them to compound and fix the COLA calculations they are all wrong. The new analyst said she sent the PERS reimbursement and the COLA issues to the appeals unit together. Yippie! That was 3 weeks ago, I want pain and suffering for hurting my credit half my benefit has been missing it's the difference of 3 to 6 thousand a month. Maybe I can pay my bills I am really sad that this company is so corrupt, I have been so ill I never knew how I was being abused and ripped off. I want $100 a day for how long I waited for the amendments after the first 30 days, 9% interest compounded yearly, pain and suffering. I can say I know the policy front and back now.