As a consumer, what is the most important part of a life insurance policy? The activation of the policy? Possibly, since it is needed to help be covered. The signing? Not as much, since signing paperwork does not guarantee that you will be covered. No, the most important part of the policy is ensuring that the claim from your beneficiary is approved, no matter how far along it is.
Penn Life Mutual have been a strong company for a long time. Founded back in 1847, they have been known as a strong and reliable insurance company. Having worked with both individuals, as well as other companies, they have solidified themselves as a strong presence when anyone attempts to start a search on reliable companies for life insurance.
However, they do tend to have stricter policies than others. The exclusions that they apply have much more impact, and have more guidelines than others. Things such as suicide, alcohol abuse, and prior medical conditions, all come into play when they attempt to not have to pay out the policy.
Just a few of the possible exclusions include problems with substances. The two most notable are alcohol and illegal drugs. Many cases say that the cause of death must not have been an abuse of some sort, and must have been accidental for the policy to take effect. As such, if the insurance company is able to find that the policyholder had some sort of substance in their body that impaired their thinking, they can easily turn it around and say that, since it was abuse, it falls under the exclusion guidelines, thus denying the claim.
Exclusions are not the only reason for denials. Some cases have been denied due to improper paperwork. This usually covers such things as information not being properly written down, prior medical conditions not being listed, or even beneficiary statuses not finished. All of these are things that insurance companies will attempt to use when filing for a denial.
Because of this, it is always best to try to get in touch with a reliable and experienced life insurance attorney. These attorneys can help anyone and everyone to figure out if the denial is a valid reason, as well as the best way to go about battling a denial of the claim. Because many attorneys are independent, you can be sure that they will only fight alongside and for you, and not for the bigger companies.
If your Penn Life Mutual life insurance claim was denied, our life insurance lawyers will fight hard to get you the full amount of the policy.