You are numb to it all. You have just experienced the loss of a loved one and you are not sure where to go. You must deal with the fact that your spouse or family member has now passed away, and you are left to pick up the pieces. Their death was an accident, and no one could have predicted it. And yet, you have to deal with the aftermath. As the funeral proceedings are getting finalized, and you send out details and information to cover new and old debts, you are blindsided by a denial by the life insurance company that your spouse worked so hard to get. The worst case scenario has occurred.
Although this may be a bit bleak and harrowing, these kinds of situations happen daily for those just attempting to live their life. Denials on Transamerica Premier life insurance policies can seemingly come out of nowhere, and without warning. They can come from many different reasons.
One such reason is that the policyholder ended up not paying the premiums on the insurance properly. If there had been a rough period where the policyholder could not afford the policy, it can take some time until the policy is reinstated. If the death occurred within that time frame, a dispute may be made on the side of the insurance group.
Another issue is an alleged misrepresentation on the application. In addition, there are countless exclusions as well. Common exclusions are: drug exclusion; alcohol exclusion; felony exclusion; suicide exclusion; and self-inflicted injury exclusion. Beneficiary disputes are common among ex-spouse, spouse and children, that can lead to an interpleader.
Thankfully, not all insurance companies are like that. Transamerica Premier Life Insurance Company unfortunately denies a very large amount of claims. Previously known as Monumental Life Insurance Company, Transamerica Premier has been helping consumers and customers for over 100 years, and to great effect. They hope to provide coverage to everyone, they are just not happy about paying when a claim is submitted.
If your Transamerica Premier life insurance claim was denied, our life insurance lawyers will fight hard to get you the full amount of the policy.
Transamerica Corporation Life Insurance Claim Denial Lawyer
Transamerica is a familiar name amongst consumer seeking to obtain insurance, gather investment advice and plan for retirement. The Iowa headquartered financial tools company has worked hard to make a name for itself ever since it was found in the late 1920s. Transamerica has a more advanced business structure in that “Transamerica Corporation” serves as the holding company for several smaller subsidiaries that operating in the U.S. insurance and financial tools space. This tiered structure allows the corporation to offer a wide variety of insurance, investment and retirement planning across the nation, but still limit its risk by simply holding other providers under its umbrella and being able to sell these off whenever needed.
At the risk of being called cynical, it is important to understand the risks associated with doing business with a corporation with this type of structure. While the structure alone may not be the main determining factor, consumers should understand that a holding company structure is very beneficial to the provider. As stated above, the company operating and responsible for any liabilities tied to the services provided (such as life insurance claim payouts) and tied directly to the subsidiary under Transamerica Corporation. This is not to say that one could not pursue Transamerica Corporation for monies owed and not paid, but it does say that getting paid directly by the parent company in the event that the subsidiary cannot or will not pay is harder to achieve. Additionally, if a situation with the subsidiary service provider ever goes south, Transamerica can simply dissolve or sell off this one company and keep operating to limit the liability against the parent corporation.
Such an analysis of the corporation may be a bit overreaching, but is something that consumers should consider when seeking life insurance. Imagine obtaining a policy and your beneficiaries seek to file a claim on it in the future, only to be denied and have no recourse as Transamerica has long since separated themselves from the subsidiary that holds your policy. This subsidiary has either been dissolved or no longer has the financial means to reliably payout on the claim filed. While this described situation is really rather unlikely, a denial on a life insurance claim for any reason is unfavorable to the beneficiaries or insured parties involved. If a denial on a life insurance claim happens to you, do not settle for a simple no answer and give up. This is the point at which one should seek out legal support and fight to obtain the money that is rightfully yours.
Recent Transamerica Life Denied Life Insurance Claims Paid
- Transamerica Premier Life Insurance Company interpleader case $101,500.00
- Transamerica Premier Life Insurance Company dispute $307,350.00
- Transamerica Premier Life denied life insurance claim suicide $164,000.00
- Transamerica Premier Life beneficiary dispute spouse $282,000.00
- Transamerica Premier Life autoerotic asphyxiation denial $112,500.00
- Transamerica Premier Life denied AD&D claim $123,000.00
- Transamerica Premier Life beneficiary dispute $303,000.00
- Monumental Life Insurance company denied AD&D claim $175,000.00
- Monumental Life Insurance company beneficiary dispute $272,000.00
- Monumental Life prescription drug denied claim $303,500.00
- Monumental Life insurance claim denied suicide $255,000.00
- Monumental Life Insurance interpleader claim resolved $110,000.00
If your Transamerica life insurance claim was denied, our life insurance lawyers will fight hard to get you the full amount of the policy.