When a loved one has a died this is a most distressing time. There are many things that have to be taken care of. One of these may be for the beneficiary of a life insurance claim. Most often individuals that are beneficiaries feel that all they have to do is submit the claim and the life insurance policy payout will be quickly taken care of. Unfortunately there are times when there is a Denied life insurance claim situation that needs to be dealt with. Learn about contesting a life insurance beneficiary and the interpleader action
Why would there be a Denied life insurance claim?
Insurance companies are going to be very careful when they have to pay out a claim. They are going to carefully scrutinize the policy when the beneficiary is submitting a claim. There are times when they do this where it ends up with a Denied life insurance claim problem. What this means is that the insurance company has found some reason for not paying out the claim.
There are several common reasons that did this can occur. Such as;
- There was a specific waiting time for the insurance policy to come into effect
- The cause of death was not included in the coverage of the life insurance policy
- There was a change in beneficiary
- Information filled out on the life insurance policy was in accurate
These are just a few of several reasons why there can be a denied life insurance claim problem.
For these reasons it is very important that individuals that are taking out life insurance make sure that everything is in proper order. If they have any doubts or questions they should bring these to the intention of the insurance company and get the responses in writing. This way if beneficiaries have a issue with making a claim they have some documentation to back them up.
What can be done about a Denied life insurance claim?
It is devastating for the beneficiary to realize that they are not going to be paid the value of the insurance policy. Many cannot understand why such an occurrence can happen. When an individual is faced with a denied life insurance claim there are certain steps they are going to have to take to help get this rectified.
Insurance companies can make it quite difficult to fight a Denied life insurance claim. However, that does not make it impossible.
Speaking to the insurance company about the Denied life insurance claim
The first step for the individual that has been denied the claim is to fully determine why the insurance company has come to this conclusion. They have to be specific as to their reasons for denial. Ideally an individual should get this in writing so there is no confusion.
If there are any disputes that can refute what the insurance company is claiming they should be made by an experienced life insurance lawyer now. The insurance company has to be made aware of this. On occasion they may discover that the Denied life insurance claim that they are purporting is not factual. In this case they will rectify the problem by paying out the claim.
Getting the right help for a Denied life insurance claim
Insurance companies are big business entities. They have their own staff of legal professionals. An individual trying to come up against them on their own most often will not produce favourable results. There are options where the beneficiary can take the company to court to fight the Denied life insurance claim. In most cases these individuals are going to want to have a top life insurance law firm. Insurance policies can be very complex. The insurance companies will look for any way they can to deny paying a claim in some cases. It takes experienced individuals to be able to identify this. Then arguments have to be raised to prove that they are wrong. Our life insurance lawyers submit lengthy legal briefs, and we get claims paid almost all of the time.