Those people arguing over a free ride should look up the facts of the court filing. Mr. Amschwand actually worked for Spherion, for more than a day, but took a leave from the company upon his diagnosis. While still employed, but on leave from the company, he was diagnosed with cancer. Spherion’s subsequent change in policyholder’s should not have made any difference to the ultimate policyholder. Spherion’s aceptance of Mr. Amschwand’s payments towards his life insurance policy while he was on documented leave for his illness only further demonstrate Spherion’s culpability.
Mr. Amschwand’s failure to secure a second party term life insurance policy is irrelevant. It is unfortunate Mr. Amschwand could not prove, in court, Spherion purposely mislead him through their communications to the Amschwand family. I agree the unanswered requests for a copy of his policy should have been a red flag, but the companies failure to provide said policy should also only further the Amschwand’s case. These people weren’t looking for a hand-out, only what they were legally entitled to.
I have read the previous comments, and just wanted to interject. I am over 50 and my husband is diabetic. We have inquired for life insurance outside of our employer plan. It is impossible for us to pay the premiums. So sad that most people when they are young and healthy don’t think of such things.
This brings to mind Marx’s description of the French finance aristocracy before the revolution of 1848, in which “the mania to get rich was repeated in every sphere… to get rich not by production, but by pocketing the already available wealth of others.”
Marx wrote: “Clashing every moment with the bourgeois laws themselves, an unbridled assertion of unhealthy and dissolute appetites manifested itself, particularly at the top of bourgeois society—lusts wherein wealth derived from gambling naturally seeks its satisfaction, where pleasure becomes debauched, where money, filth and blood commingle.”
Corporate corruption, $45MM severence packages for CEOs stepping down in failure, poor widows denied death benefits, no justice for the weak. The time is ripe for “Meaningful Change”. Carl would be proud of just how far we’ve sunk.
Why not start by buying a real policy from a real company and a real insurance agent. TERM INSURANCE COSTS HOWMUCH??
Here we go let’s start blaming the pay packages of CEO’s. Why not live by the phrase “DON’T Put all you eggs into one (your Companies) BASKET” Diversify, get a CHEAP!!! TERM POLICY OUTSIDE OF WORK!! It cost’s what per month for TERM INSURANCE, less than 50.00 per month Lets see shall I get the 24″ new Rims and rent them or buy life insurance. Hmmmmmmmm!?
When they never produced the policy should have been a red flag, but who knows may have been already diagnosed.
Sure rings home the phrase “Life Insurance is for those who die, not those who live”. But we all know someone who doesnot have it or enough of it.
Agent
LOL. I am neither a progressive liberal nor do I espouse the teachings of Carl Marx. However, Marx’s take on the consequence of greed in a Capitalist economy seems to ring true. How you can so easily dismiss that reality is somewhat troubling, as it will take an informed consumer to institute change in the market place or, as a last resort, an engaged constituency to force legislative reforms.
The Goeres’ story is night and day different than the Amschwand one. If the Schwabb retirement account had gained $500,000 do you think there would have been a lawsuit (and who didn’t loose lots of money during this period of the dot com collapse)? On its face Amschwand is a terrible situation but if there were no limit to the employer’s liability for benefits many medium to small companies would drop them completely – and then you’d have to buy from AFLAC (which, by the way, is a good thing). “Agent” is correct in the advice to buy outside your companies offerings – Agents carry E&O to protect the Amschwands of America
Many people cannot buy any life insurance other than through an employer group. One has to have good (perfect) health to purchase a policy. Someone with cancer is not going to be able to buy any other life or health insurance.
Your an agent. Do you not know that? Remember adverse selection.
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Those people arguing over a free ride should look up the facts of the court filing. Mr. Amschwand actually worked for Spherion, for more than a day, but took a leave from the company upon his diagnosis. While still employed, but on leave from the company, he was diagnosed with cancer. Spherion’s subsequent change in policyholder’s should not have made any difference to the ultimate policyholder. Spherion’s aceptance of Mr. Amschwand’s payments towards his life insurance policy while he was on documented leave for his illness only further demonstrate Spherion’s culpability.
Mr. Amschwand’s failure to secure a second party term life insurance policy is irrelevant. It is unfortunate Mr. Amschwand could not prove, in court, Spherion purposely mislead him through their communications to the Amschwand family. I agree the unanswered requests for a copy of his policy should have been a red flag, but the companies failure to provide said policy should also only further the Amschwand’s case. These people weren’t looking for a hand-out, only what they were legally entitled to.
I have read the previous comments, and just wanted to interject. I am over 50 and my husband is diabetic. We have inquired for life insurance outside of our employer plan. It is impossible for us to pay the premiums. So sad that most people when they are young and healthy don’t think of such things.
This brings to mind Marx’s description of the French finance aristocracy before the revolution of 1848, in which “the mania to get rich was repeated in every sphere… to get rich not by production, but by pocketing the already available wealth of others.”
Marx wrote: “Clashing every moment with the bourgeois laws themselves, an unbridled assertion of unhealthy and dissolute appetites manifested itself, particularly at the top of bourgeois society—lusts wherein wealth derived from gambling naturally seeks its satisfaction, where pleasure becomes debauched, where money, filth and blood commingle.”
Corporate corruption, $45MM severence packages for CEOs stepping down in failure, poor widows denied death benefits, no justice for the weak. The time is ripe for “Meaningful Change”. Carl would be proud of just how far we’ve sunk.
And so it goes…
People who are outraged about these types of corporate behavior should take action…starting with moving your investments out of Schwab accounts.
Spoken like a true commie !
Why not start by buying a real policy from a real company and a real insurance agent. TERM INSURANCE COSTS HOWMUCH??
Here we go let’s start blaming the pay packages of CEO’s. Why not live by the phrase “DON’T Put all you eggs into one (your Companies) BASKET” Diversify, get a CHEAP!!! TERM POLICY OUTSIDE OF WORK!! It cost’s what per month for TERM INSURANCE, less than 50.00 per month Lets see shall I get the 24″ new Rims and rent them or buy life insurance. Hmmmmmmmm!?
When they never produced the policy should have been a red flag, but who knows may have been already diagnosed.
Sure rings home the phrase “Life Insurance is for those who die, not those who live”. But we all know someone who doesnot have it or enough of it.
Agent
Thom,
LOL. I am neither a progressive liberal nor do I espouse the teachings of Carl Marx. However, Marx’s take on the consequence of greed in a Capitalist economy seems to ring true. How you can so easily dismiss that reality is somewhat troubling, as it will take an informed consumer to institute change in the market place or, as a last resort, an engaged constituency to force legislative reforms.
The Goeres’ story is night and day different than the Amschwand one. If the Schwabb retirement account had gained $500,000 do you think there would have been a lawsuit (and who didn’t loose lots of money during this period of the dot com collapse)? On its face Amschwand is a terrible situation but if there were no limit to the employer’s liability for benefits many medium to small companies would drop them completely – and then you’d have to buy from AFLAC (which, by the way, is a good thing). “Agent” is correct in the advice to buy outside your companies offerings – Agents carry E&O to protect the Amschwands of America
Many people cannot buy any life insurance other than through an employer group. One has to have good (perfect) health to purchase a policy. Someone with cancer is not going to be able to buy any other life or health insurance.
Your an agent. Do you not know that? Remember adverse selection.
Sorry, I meant to write you’re, not the incorrect your.