When a love one passes away, one of the last things that you want to enter into is a fight with the life insurance provider without a life insurance lawyer, as you will lose. In the United States many insurance companies engage in guerrilla style legal warfare to either deny or delay payment to life insurance beneficiaries. The bottom line is that you need a top life insurance lawyer to obtain the full amount of the policy to which you are entitled.
You should be on the lookout for the following red flags.
While many states have enacted "plain English laws," insurance companies still find ways to make insurance contracts very complicated. Often times family members find "hidden loopholes" in life insurance contracts, which keep them from receiving the funds that they are due. Prior to signing up for life insurance it is a good idea to make sure that you or your family member completely understand the policy. If there are any parts that you don't understand, even one sentence, it is a good idea to hirer professional help. After all, it is that very sentence that could contain a hidden loophole, which allows the insurance company to eventually deny a claim.
Delaying Until Recipient Death
Insurance companies will sometimes delay paying a policy in the hopes that the inquiring beneficiary will pass away or become too sick with old age. In this way, the insurance company can save money and won't have to pay the policyholder. When a life insurance company delays a claim, the process to fight the delay can become quite lengthy. Insurance companies will sometimes delay a claim in the hopes that old age or sickness will prevent you from fighting for what is legally yours. In this case, it is best to higher legal representation. A great life insurance lawyer will have the insurance company's playbook. In other words, a lawyer will know all of the insurance company's tricks for delaying a claim, and so the lawyer will be better equipped to fight for your rights.
Denying Life Insurance
Insurance companies will look for any excuse to deny a claim. The most noticeable instances occur when they try to state that an accidental death was in fact a suicide (which is usually not covered by insurance policies). In this case, benefactors have had to supply coroner's reports, state issued death certificates, testimony from psychiatric professionals on the mental state of their loved ones prior to death, and other expensive means of proof. If your claim is denied, be prepared for a fight. When facing a denied life insurance claim be sure to trust your instincts. An insurance company's monetary interests directly conflicts with yours. As such, check the legality of their decision, ask for professional help, and be prepared to fight. While there isn't a statute of limitations to file a life insurance claim, there is a limited time given to fight a denied claim. These limitations mean that you must act efficiently.
Dealing with denied or delayed life insurance claims can be a frustrating experience. Being on the lookout for the above red flags can better prepare you for the legal battle that often accompanies a denied or delayed claim. When fighting a denied or delayed life insurance claim, remember that you don't have to do it alone. Life insurance lawyers are specialized lawyers who know how to fight and win against the insurance companies. In your time of grief and frustration be sure to have someone on your side, someone who wants to make the insurance company pay what is legally due, and make sure that, that someone is a life insurance lawyer who will support your individual needs.