Am I Exposing Myself?
Written many years ago, as I was exiting Nortel. Would my group insurance discount with AVIVA disappear? In the end I changed companies, as the rates were cheaper elsewhere. Always shop around.
For the longest time I have been insuring with A Very Interesting Vivacious Atypical insurance company (no that is not their name, but there is a hint in the name I call them), as part of a Group Insurance for Nortel Employees. The rates seemed fine and the one time I had to deal with them, they were fine. Now I no longer am a Nortel Employee what does this mean?
Could my insurance company simply revoke my insurance because I am no longer part of the group? Would they suddenly send me a bill cancelling my discount? Am I at risk?
I decided the best way to deal with this is to be candid and then see what deals I could make if I used a simple full frontal attack. I called my insurance company and asked “I no longer work at Nortel, what does this mean?”, and the first woman I spoke to was quite jovial and jocular about the whole thing and said, “Well I guess since we sent this out to you, we can’t simply cancel your coverage, so you can just continue paying the rate we sent you”. This sounded wonderful, fantastic, so magnanimous and absolutely full of crap. I thanked the young lady and decided to call again on another day.
The second time I called I got a much more dower sounding young man, who honestly answered, “I have no idea what this means, let me go find out”, this made me feel much more confident that I might be getting a real answer and not just an off the cuff comment. The gentleman returned and confirmed what I heard previously, since I already had a quote for my insurance, that is the rate for the coming year. The gentlemen then went further to say that I was not the only person in this position, and his company had not made a statement about what should be done about these policy holders (given the “group” they are in cannot exist much longer). The gentleman then said I should just pay for the policy and that if something changed the company would contact me about what might happen.
From this phone call I can surmise:
- There is no policy in place yet on how to deal with former Nortel employees in this insurance group, however, I also guess that there are many more non-Nortel employees now in this group than there are actual employees.
- If the Insurance company in question thinks about it, and sees that I am a good customer they may offer me a similar rate under a different “group” name.
- There is a degree of risk if I simply renew with this insurance company
It is on my file that I am no longer a Nortel employee, thus there is no “intent to be fraudulent” on my part, but I guess my question would be: How big a risk am I taking by simply renewing this policy given I no longer qualify to be in the “group insurance”?
Comments or opinions welcome.