When you think of a life insurance company, you think about wanting to have a reliable party that you can trust. You want a group that you know will not mismanage your funds, and that you can rely on to be able to pay out to you at a proper rate when things go bad. If and when your policy goes into effect, you want to make sure that they can deliver, especially if you are going in it for the long haul.
Phoenix Life is known for their reliability. Having been in business for over a century, they have built up a strong financial backing, with a net worth running extremely high. They have over 300,000 active policies through clients, and are always looking to expand and prove their worth. However, they are not without their fair share of problems with it comes to claims.
No matter who is being taken care of, or who is putting in the request, getting a denial on your claim can be extremely disheartening. Phoenix Life is no stranger to this, as they have built a reputation of being very strong in their actions. They also know how to work around certain policies, in hopes of getting out of having to payout in certain situations.
They do this by working the exclusions of the policies. These exclusions are certain events and situations that allow the company to not have to pay out when a claim is made. These exclusions come in many different varieties, but the most classic exclusions are the substance and alcohol ones. These will generally state that, at the time of the policyholder’s death, if they are found to be under the influence of such substances, that they had put themselves at risk, thus not making it an accidental death, and being excluded from the payout.
This can be extremely problematic for you, and can seem like an uphill battle. Denials just mean even more legal battles, even when you did nothing wrong. Some denials can even be based off of faulty paperwork information, which occurs mostly when dealing with the insurance company, as well as the employer’s company.
Thankfully, there are some options that can be taken. Consider finding an experienced life insurance attorney to help represent your case. They can help look into any and all information provided, and help you build up a case and solid plan for contesting the denial. They know that you are not here to extort money, but instead are here to just keep moving on with your life. As such, they will walk beside you, ensuring that you are not taken advantage of from the insurance company themselves.
If your Phoenix Life insurance claim was denied, our life insurance lawyers will fight hard to get you the full amount of the policy.