Alafaya Life Insurance Lawyer
Many people, in an attempt to provide a financial benefit to their loved ones in the event of their untimely death, obtain life insurance policies. These policies pay a specified amount, often referred to as a death benefit, to the person named as the policyholder’s beneficiary upon the policyholder’s death. However, most policies have an incontestability clause, which means that if a policyholder dies, the insurer has the right to review the policyholder’s medical history before denying or paying a claim. This can result in significant delays and is often followed by an outright and unfair denial of the claim itself. To learn more about the process of filing or disputing a life insurance claim, please contact one of our experienced Alafaya life insurance lawyers today.
Types of Life Insurance
Life insurance policies provide a death benefit to a policyholder’s beneficiaries, allowing survivors to pay off expenses and debts, while also providing them with a source of income. There are two main types of life insurance: term life insurance and permanent life insurance. The former provides insurance for a specified period of time, while the latter provides coverage at variable rates. There are also other variations of insurance policies, including universal life coverage, which builds cash value over time.
Why are Life Insurance Claims Disputed or Denied?
Not all life insurance claims are approved. For instance, some providers limit payouts to beneficiaries by denying claims based on a claimant’s failure to disclose certain information during the application process, or for failing to strictly comply with the provider’s specific filing rules. In other cases, insurers deny claims based on one or more of the following:
- Allegations of fraud or misrepresentation levied against the policyholder or beneficiary;
- Disputes over the interpretation of specific policy language;
- Disagreements over the effective date of coverage;
- Disputes regarding the policyholder’s cause of death; or
- The cancellation of a policy due to accusations of the non-payment of premiums.
The most unfortunate part of life insurance disputes is that they tend to affect people who are already going through the most difficult times of their lives. It’s important, however, for beneficiaries to remember that they do have rights under Florida law, which requires insurers to act in good faith. This includes a mandate to conduct timely and thorough investigations into claims and to make all determinations according to the proper policy language. Insurers that fail to abide by these rules can be held liable, so if you want to ensure that your own interests are represented during the life insurance claim filing process, or when disputing an insurer’s denial, please reach out to a member of our experienced life insurance legal team for help.
Do You Need Help Filing a Life Insurance Claim?
To schedule a free consultation with an experienced Alafaya life insurance lawyer, call Israoui Law at 407-381-4529 or reach out to us by online message. A member of our legal team is standing by 24 hours a day, seven days a week to answer your questions and concerns.
