They take your premiums, and promise to pay benefits when your cherished one dies, but then they don’t. It’s an all too common phone call we get from heart-broken and frustrated beneficiaries who expected to receive life insurance benefits when their cherished one passed away.
Unfortunately, life insurance coverage companies often try to figure out any way never to pay the huge benefits after someone dies.The many reasons for life insurance coverage denials
There are many reasons we’ve seen where beneficiaries thought these were entitled to life insurance coverage benefits, but the insurance provider refused to pay. A number of the common life insurance coverage denial statements are:
Material misrepresentation – that’s where the life insurance company generally claims that the policy owner or insured lied on the policy application. Despite the fact that they easily may have cleared things up as the covered with insurance was alive, they instead often choose to do little or nothing and investigate the insured’s health background if the individual dies within 24 months of the policy’s effective date.
Child who died had not been covered – life insurance coverage companies often sell insurance policies to repay both parents and their children. What they don’t really always let you know is the fact children may only be covered to a particular age, in support of in specific circumstances, like if they’re a full time learner. Sometimes, though, an agent or the insurance provider may still let you know a kid is protected. Invest the out an insurance plan and are advised your kids are protected, you might still be eligible for benefits even if the plan language says otherwise. The insurance provider cannot tell you a very important factor to perhaps you have rely onto it to your detriment. That’s not fair and often not legal.
General life insurance coverage vs Accidental death and dismemberment – one common kind of life insurance coverage claim we see is in which a life insurance coverage company denies a claim under an accidental death and dismemberment claim. To be able to be eligible for coverage, the fatality must generally be the consequence of an accident. We had a case where the a female was hit by a car and wiped out while crossing the road not at an intersection. The life insurance denied the accidental loss of life say by stating that she caused her own loss of life by jaywalking. Instead of admit the denial, the beneficiary called our Florida life insurance coverage attorneys for help. We proved regulations to the life span insurance provider that the loss of life was a major accident rather than intentional, and they paid the complete insurance plan limit within 21 days!
Even if the life span insurance provider lied to you, you could still be eligible for the insurance proceeds
When a life insurance coverage company does not pay life insurance coverage benefits, they might be in breach of the life insurance contract. Inability to pay the huge benefits is often looked at as a breach of contract. However, there are many intricacies of life insurance coverage law an experienced life insurance coverage legal professional can help navigate.
Regulations of promissory estoppel may entitle one to the insurance proceeds
Life insurance coverage companies cannot rest to you. They can not misrepresent facts and help you to keep paying life insurance coverage on an insurance plan that they never expected on paying out.
For instance, we represented a beneficiary who was told that her son would be covered under the policy. However, after he died, the life insurance company denied the promise and argued that he had not been protected under the insurance policy because he was under the age of 25 however, not a student. Our life insurance coverage attorneys were able to submission copies of the telephone calls between the beneficiary and the life insurance company, and could actually verify that they made representations to her which she relied to her detriment. The life span insurance provider reversed itself and paid the entire benefit to the beneficiary.
For questions on any life insurance coverage say in chicago, feel absolve to call Insurance attorney in Chicago coverage lawyers.