Principal Life has been around for many years. Building up a steady bulwark of trust and honesty, they seem quite well off, being able to be financially steady and forward thinking, as they have partnered with many high profile groups and investment projects. They also have a decent reputation of helping to get insurance for almost any occasion. They can help you to save for your future endeavors, or to help plan out a route in case something goes bad. They can also help to figure out if you need a long term or short term policy, and if it would suit your needs better at that current period.
Unfortunately, they are not infallible. Just like any other company, Principal Life will also cause you quite a few problems when it comes to claiming the life insurance policy. When claiming a policy, making sure to have clarity in communication, as well as a complete understanding of the policy at hand, can be extremely difficult. It can be a complete swamp of information that you may or may not need to know. Things such as separate exclusions and misinformation can hamper your efforts, as well as completely shut down any possibility of getting a turnover on a denial.
Things such as exclusions are the primary reasons as to why you may or may not be approved. These exclusions can be extremely wordy, but there are a few that are often pretty common. These are the suicide exclusion, alcohol exclusion, and substance exclusion. All of these have to deal with the fact that, if the death occurs, it must be fully accidental. To you, it may be accidental, but if there are traces of alcohol or substance within the body of the policyholder, many insurance companies will pounce on the chance to state that the exclusion applies to these situations.
As such, it is important to know your policy, and know the right people. The best way to do this is to find and hire a proper and experienced life insurance attorney. Having an attorney that is fully experienced and specialized to handle these cases makes the information flow that much easier, as well as safer for you, if you had gone alone. They can ensure that you will not be cheated by the insurance company, and that no loopholes can be used against you. They know that you just want this to end with you getting your rightful payouts, and will work for you as long as you need to make that a reality.
If your Principal Life insurance claim was denied, our life insurance lawyers will fight hard to get you the full amount of the policy.