Platinum Supplemental Insurance

I've had a cancer policy since 2010 and the company has always been on top of things! I'm fixing to take out there accidental plan that's less than a dollar a day and way better than any Aflac plan on the market! I hope I never have to use it but if I do I will be thankful that I have it!

After hearing a pitch from a salesman, I had an interest in several supplemental policies for wife and myself. In fact, one of the policies would have left us money ahead of premiums in the first year by using it... almost too good to be true! According to the salesperson, the submission requirements for a benefit claim seemed fairly straightforward and relatively simple. However, upon further examination, after reading what appears to be unresolved customer complaints, I'm feeling a bit skeptical. To be fair, there are also a number 5-star positive customer reviews.

A quote from the Platinum website states:

"At Platinum Supplemental Insurance, we take our product quality, customer service and reputation very seriously. We encourage you to read the stories of real, verified Platinum Supplemental Insurance customers and sales representatives... ."

However, if that were truly the case, Platinum would have responded far differently to customer complaints than the following quote:

"Platinum Supplemental Insurance is an insurance agency that markets supplemental insurance products through a network of independent contractors. As the marketer, Platinum provides informative collateral, such as product brochures, product websites and detailed policy outlines. Platinum works closely with an insurance carrier that underwrites the policies and assists customers through the claims process when there are issues. It is the insurance carrier that prioritizes the claims as they come in, makes all claim decisions and handles payments of claim benefits. Claims are handled as they are received by the insurance carrier."

Platinum doesn't actually insure anyone, they offer re-branded insurance products underwritten by another company(s), which is a somewhat similar to how your local insurance agent operates. The issue with this company appears to be two-fold. Platinum sends sales representative door-to-door (actually independent contractors) who may not hold a insurance brokers license, and who may not be representing the product as accurately as they should. While no company is without negative reviews, the complaints listed on the Revdex.com site appear to be unresolved.

Platinum would do well to push for resolution from their underwriter(s) for their customers, whom they value. Instead, they appear to push any and all responsibility for benefit claims processing and payment back to their underwriter(s). Essentially, Platinum is offering a service, rather than a product. If my local insurance agent steered me to an insurance company that he or she didn't care if policy claims were handled properly, timely or to my satisfaction, it is likely that I wouldn't purchase another policy from that agent.

My wife and I were recently visited by a Platinum agent and agreed to an appointment time to hear about their Cancer, Heart/Stroke and Chronic Illness Plan. The agent arrived on time for our appointment and was respectful, sincerely interested in our family and made us feel comfortable during our visit. He talked with us about their critical and chronic illness supplement and helped raise our awareness of just how financially devastating it can be for a family faced with a critical illness diagnosis. We chose to enroll in a plan level that met our needs and budget, the policy documents arrived within several days and all was in order. We are excited to know that we'll now receive a significant annual cancer and heart screening benefit for wellness checkups that we were already doing each year. In addition, we now have some peace of mind knowing that we will have benefits paid directly to us to help with our out-of-pockets costs when cancer or heart events happen within our family. Thank you

I've had a policy for two years now and made wellness and screening claims. When I call customer service there is a real person. My grandmother took out an identical policy and was diagnosed with cancer 4 months after taking out a policy. The claims department was waiting on paperwork from the hospital otherwise o feel it would have went much faster. Overall a great experience and I like the fact that real people visit.

This company is a complete scam. After we were pressed relentlessly by two separate saleswomen (on four separate occasions) my husband and I agreed to take out policies. After we received the information on the company and their underwriter I did some research and found that virtually every review of the company both as an insurance agency and an employer were beyond negative I called and canceled both my policies and my husband's. After several phone calls and a ton of run around when we finally got the policies canceled the refunds were only a small portion of the original premiums despite getting the policies canceled within the 30 day grace period. And don't even bother trying to call this company after 5:00 PM or on the weekend. No one will answer and no one will call you back. My gut told me when these saleswomen where coming to our house over and over again but would not provide us with any information about the name of the company or any details unless we agreed to hear their " 20 minute pitch" (which actually ended up taking 2 hours because they would not take no for an answer) that this was a scam. I should have listened to my gut. Let me save anyone considering enrolling in the insurance the headache I went through (and am still experiencing trying to get my full refund). If you see anyone, anywhere at anytime trying to sale you Platinum Supplemental Insurance run away as fast as you can. It is the definition of a scam.

My husband and I have a critical illness policy purchased thru Platinum Supplemental Insurance. My husband was recently hospitalized for general surgery and was placed in intensive care for part of his hospital stay. We reviewed our policy and confirmed that our plan type included a daily benefit for intensive care. We completed and submitted a brief claim form with associated hospital records and within four weeks our benefit check was in our mailbox. We have been pleased with the customer service and would recommend this policy to our friends and neighbors.

They were not transparent about their services, and then when we requested to cancel and get a refund, they have refused to do so. Our services are cancelled, but they refuse to send the full amount that we are owed

I have been customers of Platinum for 11 years now and I have several policies with them and the insurance companies they use. April 11th 2008 I was diagnosed with malignant melanoma and received my first check within 18 days. Platinum assigned a claims specialist to help me. I have 5 policies with Platinum. I take advantage of wellness and screening Benefits and have been paid on several skin cancer destroyed. I like the fact that I no longer have to send in receipts, test results or itemized bills to collect the screening and wellness benefits! I get our checks from State Mutual Insurance within 18 to 30 days. Platinum's customer service is always very helpful and it's nice talking to a real person in Dubuque. Thanks!

Mark C

My wife and I have been customers of Platinum for 7 years now and we've held several policies with them and the insurance companies they use. Fortunately, we've never had to use the big benefits for Cancer, Heart Attack, Stroke or Accidents but we do take advantage of the screening and wellness benefits every year when we get our annual physicals with blood work. It's great that we no longer have to send in receipts, test results or itemized bills to collect the screening benefits! We get our checks from State Mutual Insurance within 3-4 weeks. Platinum's customer service is always very helpful and it's nice talking to a real person in Dubuque.
Thanks!

I am not sure why it is taking so long to review our claim since we have given them all the info they asked for. Heart attack and stents put in in May 2018. It is now Oct. and no movement from State Mutual Insurance which Platinum says is the one that reviews claims. The last request we heard about was for all medical records from 2011 to July of 2018. Why would they need records that far back? We really need the financial help promised. Very Frustrated right now. Calls have been answered but it sounded like Platinum was at the mercy of the slow acting *** Ins.

My wife and I have been policyholders since Sept 2014. We have used our annual cancer/heart screening benefit since year one and have received the benefit payment in a timely manner each time our claim was submitted. In Sept 2017 my wife required a heart procedure (angioplasty with stents) to clear blockage in two arteries near the heart. Our experience with the Claims representatives have been exceptionally good, they were prompt with communications and very helpful throughout the claims process. I am very pleased and I would definitely recommend Platinum Supplemental Insurance to anyone.

I had purchased insurance from *** I had it for three years when salesman for this company came and Sid the insurance was being replaced with Platinum's. I had the insurance for about a year when my husband had a heart attack and was ambulances to st Luke's cardiac wing that was April of 2017, I have called them every other Thursday since then today is NOW January 22 2018 they just informed me that he was denied the claim. It's been almost a year, I have gathered information after information, they said he did not qualify. For one they had all the information they needed in April so why so long. I am fit to be tied. And of course we have been paying premiums this whole time. I would not suggest this insurance to anyone. Read all the fine print before you sign

Company Representative did no fully disclose how the rewrite of a policy would be handled resulting in loss of monies and extra charges.
I was contacted by A Platinum representative about updating my current policy. After discussing the new policy I accepted the new policy offer. I was told only that they had new underwriters which to me means that they had a different group of people reviewing the eligibility of the person applying. After having signed the documentation, I was never advised that the new policy was with an entirely new company and that there would 2 premiums being drafted from my bank. I had upgraded my policy once before and never had and issues other than I was not told that the draft to my bank would change my due date. Which by the way was the same thing that happened this time. Seems their representatives are taught to purposely not give you information that could cause you not to take the new product. Additionally, I was never told that I would have to cancel the policy I was replacing. As I said I had done this before and never had to do any of this. So when my bank account was hit with 2 premiums within 8 days and left me overdrawn, I contacted Platinum about cancelling the policy I was replacing. I was advised that I could send the request for cancellation to their customer service email but that the processing would take 7-10 days I believe. So today I call back to find out what the hold up is and find out once the Platinum CSR transferred me to a GTL CSR that GTL is no longer a part of Platinum, that I would only get the premium back from GTL's receipt of cancellation as of 9/18/17 when the cancellation request was sent via email and dated 9/6/217. So as a result of Platinum's direction and not being transparent about their relationship with GTL, I lost almost 2 weeks of earned premium on the cancellation of the GTL policy. Even when I called today, Platinum had the availability to transfer me to GTL without putting me a queue just straight into GTL's customer service. So to me this is deceptive. They do not tell you the entire financial process for fear of losing the sale, they do not give proper information when you call their customer service department and continue to acknowledge and act like they are still a part of a company they are clearly no longer a part of. They sell to people in the country and now I know why, they are clearly looking to give lists of others that have their policies so you feel comfortable and trusting and then take advantage of that trust by not divulging what the entire process looks like, what kind of financial challenges it may pose to you and giving you the information to properly take care of replacing the policy they are now selling. They make it sound like they are just updating your current policy when they are no longer even aligned with the company on your current policy. To me that is entire and complete deception.