This article focuses on the disability insurance policy offered by Paul Revere Life Insurance Company, encompassing its policies, characteristics, advantages, and alternatives.
This includes tailor-made coverage options to suit individual requirements and financial plans.
Additionally, the article aims to address common queries related to Paul Revere Life Insurance Company and its policies.
Paul Revere Disability Insurance
Paul Revere sold disability policies to high-earning business owners, doctors, lawyers, and dentists.
These policies promised that if these individuals were unable to perform their occupational duties, they would receive a certain amount of money every month.
It was one of the companies that sold these policies.
Paul Revere and UNUM disability insurance companies
- If you hold a Paul Revere policy, you likely stuck with your insurer for a while.
- Paul Revere ceased issuing policies in the early 2000s.
- The policies Paul Revere provided in the 1990s were popular for offering high monthly benefits on favorable terms based on occupation.
- UNUM, the insurance company, currently handles Paul Revere claims and benefits distribution.
Paul Revere Short-Term vs. Long-Term disability benefits
- If an injury or illness prevents you from working, you may file for short-term disability.
- If you are granted short-term disability benefits, they may expire after two years.
- If you are still disabled and cannot work, you must file for long-term disability (LTD) benefits.
- Insurance firms such as Paul Revere and UNUM are hesitant to pay out LTD benefits, so you need to make a strong case to prove your disability.
Features of Paul Revere/UNUM disability insurance
UNUM has a track record of handling claims unfairly.
- In 2004, a multi-state investigation took place.
- The investigation looked into UNUM’s management of disability insurance policies.
- The investigation uncovered that UNUM was rejecting claims.
- UNUM was not conducting a fair and proper review of the claims.
Why benefits can be terminated or denied
Nick Greenlight is an experienced individual in the financial sector, with knowledge spanning from investment management to income tax preparation.
He has been writing informative essays on personal finance for over a decade and holds several credentials.