Allstate Critical Illness Insurance Update

As I mentioned before, I signed up for this extra insurance since the beginning of 2017, but never bothered to fill out any claims. Based on the recommendation of our company’s benefit department, I even chose the highest coverage level, which is $50k per incident.

When my kidney transplant surgery was scheduled, I made sure I printed out all the claim forms since I did not do so for dialysis and heart surgery. I handed the documents to the post-transplant coordinator who then gave it to a social worker. She managed to get the attending doctors to fill out the form and return them to me. I still do not know how Allstate received the claim but they entered three claims into their system: kidney transplant, heart bypass surgery, and ESRD/dialysis. The weird thing is that the UCLA social worker said I needed to fill out some sections of the form so she is returning them to me. Did she also file them with Allstate? Why did Allstate start three claims instead of one? How did they even find out about the other two incidents if I did not file any claims? Weird.

By the time I found out that the claims were filed, Allstate had already approved the kidney transplant claim. They approved the entire $50k amount and when I got home from two weeks in Westwood, the check was already in my mailbox. Today, I got an email saying that another claim status was updated. Allstate had wanted some documentation on the ESRD/dialysis start date and an operative report for the bypass surgery; I sent those in last week by mail as well as uploading files to their website. Well, evidently they also accepted the ESRD/dialysis claim, so another $50k is coming. All we are waiting for now is the decision on the heart surgery, which only pays out $12,500.

I just checked my paystubs and the critical illness insurance premium is $47.08 per pay period. Assuming 26 pay periods per year over four years, the total cost of the insurance is $4,896. Taking the total payout so far of $100k, the return is 510% annualized. Not bad.

There is another supplemental insurance I am paying for but the premiums are only $6 per pay period. I do not even know what is covered. I should go take a look to see if anything covered has happened to me since I spent so much time in hospitals and clinics the last few years.