Having an AD&D life insurance policy in place is highly recommended for people of all ages. Specifically, payouts from an AD&D life insurance policy can help ensure that your immediate family (including your spouse and children) can afford to get by in the event that something happens to you. However, what many people fail to realize is just how difficult the claims process can be for AD&D claims. Knowing a thing or two about filing an AD&D life insurance claim can come in handy for anybody who is a listed beneficiary of one of these policies.
Be mindful that the most common AD&D causes of death are: auto accident; travel accidents; murder; suicide; natural disasters; and terrorism. Life insurance companies love to deny AD&D claims based upon the above common claims.
You'll Need Some Specific Documentation
AD&D claims should be made as soon as possible following the policy-holder's passing. In order to properly fill out an AD&D claims form, some specific documentation will be needed. Perhaps the most important piece of documentation required is that of a death certificate. Having a certified copy and submitting it with the claim application is vital in making sure it can be processed.
Small Mistakes Can Lead to a Long Delay
Always take the time to review your claim application thoroughly before submitting it to the life insurance company. In fact, you may even want to consider having a life insurance attorney review the documentation for you to ensure that you haven't made any glaring errors or mistakes. Even a small and innocent mistake (such as writing down the wrong Social Security number) can result in your claim being denied.
It May Take 15-30 Days to Receive Funds if Approved
If your claim is approved as-is (which is often the case), it's important to understand that you may not receive your funds right away. In many cases, it is written into the life insurance policy documentation that the company has a certain amount of time to disburse funds after they receive your claim application. Therefore, you could be waiting for the funds for some time, so it's a good idea to plan accordingly.
A Life Insurance Lawyer is There to Help
If at any point in the claims process you become confused or if you receive a letter stating that your claim has been delayed or denied, remember that it is critical to speak with an experienced life insurance lawyer for further assistance. Life insurance attorneys can assist with appeals, denial investigations, and everything in between to make your life easier. It is important to retain a lawyer who has been handling delayed and delayed life insurance claims for at least fifteen years.
Losing a loved one is never easy, but by having the right life insurance lawyer on your side, you can at least make sure that you receive the compensation and death benefits to which you are entitled. Be sure to keep these tips in mind in the future.