Life Insurance Lapse Meaning: What to Do if Your Claim Was Denied Due to Non-payment of 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 […]
What to Do If Your Life Insurance Claim Is Denied: The Complete Plan to Appeal
People obtain life insurance policies as part of financial planning for their loved ones’ future.
Life Insurance Grace Period Defined: What Is Grace Period and What Happens if the Insured Dies During this Time?
A life insurance policy provides financial security for insureds and their beneficiaries in exchange for regular premium payments by the policyholder. Paying a premium in time is essential to keep the life insurance policy in force. However, missed payments happen. To protect people from an inadvertent policy lapse due to a missed premium, insurance laws […]
Understanding the ERISA Appeal Process: What Beneficiaries Need to Know About Denied Claims to Win
Many group life insurance plans maintained in the United States are ERISA plans. ERISA plans are employer-sponsored plans that usually deduct premium payments from the employees or make contributions by the employer. ERISA does not apply to welfare group plans established or maintained by government organizations or religious institutions. In spite of the fact that […]
What Does an ERISA Attorney Do and How Do You Know When You Need One to Recover Your Benefits?
An ERISA attorney within the scope of life insurance is a lawyer representing individual beneficiaries who need to file an ERISA claim following the death of a loved one. Usually, ERISA attorneys work with clients to recover denied and delayed life insurance claims arising out of group coverage through an employer. What is ERISA? The […]
What Is an ERISA Insurance Claim and How to File It?
Navigating the complex world of employee benefits and workplace protection can be daunting. One critical aspect that often comes into play is the Employee Retirement Income Security Act (ERISA) and its claims. A beneficiary who lost a loved one may still be going through a grieving process and may not have the strength to review […]
10+ Reasons Life Insurance Won’t Pay Out: When Will Companies Deny Claims?
Life insurance’s primary purpose is to financially protect family members after their loved one’s death. However, a life insurance policy is not offering guaranteed protection. Even if they are valid, legally binding contracts, they are usually filled with loopholes that life insurance companies can leverage not to pay out the benefits.
How to File a Life Insurance Claim for Benefits After Death
If a loved one passed away untimely, you may be grieving and not be able to focus on your financial affairs. Many people who lost a family member go through a difficult time of readjustment and do not deal with life insurance issues immediately.
Do Life Insurance Policies Go Through Probate?
Upon an individual’s death, their estate will likely go through probate. Not all property is subject to probate, and families who know their loved one had a life insurance policy wonder which category it falls in. Entering probate adds more stress to an already difficult situation. It means waiting longer to claim the payment, possibly […]
Waiver of Premium Riders: What to Do if Your Claim for Life Insurance Benefits Has Been Denied
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.