Life insurance is a contractual agreement between the policyholder and an insurance company. It is a legal promise stating that the insurance company will pay your elected beneficiary a sum of money in the event of your death in exchange for continued premium payments. The amount you pay in premiums is determined on the policy itself as well as other factors such as your age and medical history. You need a life insurance attorney if you claim has been delayed or denied.
Making the decision to purchase life insurance is one of the most responsible acts you can choose to make; it is supposed to provide a sense of security and comfort; knowing that your family will not have to face any financial difficulties upon your death, however that is not always the case. There has been a rise in delayed and denied life insurance claims from some of the nation's top insurance companies in the recent years. Such delays have left families feeling lost, defeated and overwhelmed. However, there is help for such cases.
Seeking Help for Delayed and Denied Life Insurance:
- Do Not Give up: There is never a problem when the insurance company is collecting their timely premiums, the problems only seem to magically arise when it is time for them to keep good on their promise to pay out. You see, the insurance company is in the business to make money and the sad truth is they do not want to pay out in claims, so they take advantage of novice beneficiaries by implementing delays and denials in the hopes that that you will eventually give up. Before you walk away from your claim you need to educate yourself on the legitimacy of the denial or delays. Do not assume that the insurance company is right because in fact the claim could have been wrongfully denied.
- Act Quickly: Dealing with the loss of a loved one coupled with the external headaches from insurers can be a daunting task indeed; however, waiting too long may work against you. It is important to act quickly on denials so you can get the money that is owed to you or it can be lost for good. You will need to find the energy from within to battle the insurers that are threatening to deny your claims. Lean on your family and friends in this time of need and know your rights.
- Seek Legal Help: Every claim that insurance companies are presented with is thoroughly analyzed with the objective of finding a reason to issue a delay or denial. They want to find any reason to ask for additional paperwork or documentations to delay the process of paying a claim. Claims that are unrepresented are especially scrutinized, so the best way to fight back is to seek legal help. Armed with legal representation, you will stand a greater chance of recovering the money that is rightfully owed to you. Your lawyer will fight the insurer's analyses and help get your claim approved quickly.
Regardless of the delays and denial tactics that some life insurance companies like to throw out, it is always a good idea to secure a life insurance policy. That being said, it is important to know what you are paying into to avoid such delays and denials. Being educated beforehand will save your family the stress of trying to collect and it will guarantee that you are not wasting your money paying premiums to a dishonest company. If you have any questions about a delayed or denied claim, call our experienced life insurance attorneys for a free consultation.