Typically, life insurance policies are straightforward: once the insured dies, the insurance company pays the death benefit to the primary beneficiary, whether it is a person or an entity. However, things can get very complicated when it is not clear to whom the proceeds will go. What happens with a life insurance policy when no […]
What Is an Interpleader Action? Life Insurance Attorneys Explain What to Do if You Are a Party in an Interpleader Lawsuit.
Typically, receiving a life insurance benefit is a straightforward process: when the insured dies, the life insurance company pays the policy proceeds to the named beneficiary. In reality, however, circumstances surrounding the payout can become very complicated. One of the most common issues leading to a delayed claim is a dispute between claimants. This occurs […]
Accidental death policies are designed to provide financial support to beneficiaries when the insured dies due to an accident. Unfortunately, as with many life insurance policies, accidental death claims are frequently delayed or denied. This happens because insurance companies routinely apply numerous exclusions that exclude accidental deaths from coverage.
Millions of people have died due to the COVID-19 pandemic worldwide leaving grieving families, many of them under financial stress. For those of them whose loved ones owned a life insurance policy, a new question arose – does life insurance cover pandemic related deaths? Do life insurance companies deny COVID-19 death benefits?
Riders are designed to personalize a life insurance policy so that it better meets the insured’s needs to protect their beneficiaries. One such rider is a waiver of premium, which enables the policyholder to avoid a policy lapse if they become disabled and can no longer pay premiums.
In order for a life insurance claim to be paid, several requirements must be met: there must be valid coverage at the time of the insured’s death, the beneficiary must produce a certified copy of the death certificate and file a notice of claim, and the insurance company must make sure the claim is payable […]
Life insurance has become one of the most popular long-term financial planning tools. To use it effectively, you need to know how and when life insurance payouts are made to beneficiaries and how quickly benefits will be paid. This article will help you understand what to expect when you file for death benefits and most […]
How Long Is Too Long When It Comes to Waiting for Life Insurance Payouts? Our Lawyers Explain How to Get Your Death Benefits on Time
The death of a loved one can put the family under financial stress. While coping with the loss, the last thing you need is to worry about whether you will be paid the death benefits or if they will be paid on time. A life insurance claim that has been delayed may put a beneficiary […]
People obtain life insurance policies as part of financial planning for their loved ones’ future. Life insurance protects those who rely on the insured’s ongoing financial support and will suffer in the event that this support is withdrawn. Ideally, the insurer will pay the full policy amount after the insured’s death. Unfortunately, this does not […]
Both life insurance and accidental death insurance can cover accidental drug overdose in some scenarios. While life insurance covers most causes of death, accidental death coverage pays only for accidents. People buying accidental death coverage often think that this type of insurance covers any accident as long as the person did not die of natural […]