Life Insurance Claim Investigation: What Happens and How Long It Takes
Life insurance provides financial protection to individuals and their families in the event of their unexpected death. When an insured person dies, the designated beneficiaries file a claim with the insurance company to receive the benefits of the policy. However, before the claim is paid out, the insurance company conducts a thorough investigation to ensure […]
California Life Insurance Beneficiary Laws: Rules You Need to Know to Receive the Proceeds
Life insurance provides financial security for a person’s loved ones after the insured’s death. Understanding the rules and regulations surrounding life insurance beneficiaries in California is essential. In this article, our attorneys will explore the key facts about California life insurance beneficiaries.
Common Life Insurance Exclusions: What Is Not Covered by Accidental Death Policies?
Accidental death and dismemberment policies (ADD) cover accidental deaths, but not all beneficiaries receive their death benefit. An ADD insurance contract outlines certain situations around the death that can invalidate it resulting in a denial of death benefits.
ERISA Preemption of State Laws Clause Explained: What You Can Do if Your Life Insurance Claim Is Affected
When a life insurance claim is denied and the beneficiary files an appeal or a lawsuit, the law that governs the case depends on how the insured obtained the coverage. If they bought an individual policy on their own, the case falls under state law. On the other hand, if they obtained their life insurance […]
Contesting a Life Insurance Beneficiary Designation
Life insurance is essentially a contract between the insured policyholder and the insurance company. Life insurance payout works by being governed by policy terms and state or federal laws. Laws surrounding contracts, estate planning, family, divorce, child support, trusts, and wills may all come into play after a person’s death.
How Does Life Insurance Payout Work After Death?
Life insurance has become one of the most popular long-term financial planning tools as it provides financial support when the family needs it. However, navigating life insurance claims review can be quite confusing. While it seems pretty straightforward, it is not always the case. There are a lot of factors along the way that can […]
Does Life Insurance Cover Suicidal Death? Lawyers Explain if the Policy Will Pay Out
With suicide rates increasing in the United States, insurers take measures to protect themselves against individuals who buy policies while intending to commit suicide so that their loved ones could benefit from the life insurance payout. This means that there are circumstances when companies may refuse to pay out, leaving the family not only grieving […]
How Long Does a Beneficiary Have to Claim Life Insurance Policy After Death?
When people lose a loved one, they usually go through a difficult readjustment during which financial matters such as life insurance and estate matters may be put on hold. Sometimes the beneficiary may not even know the decedent had life insurance or named them as a beneficiary. What happens when they discover there is life […]
Does Life Insurance Cover Cancer-Related Deaths: Lawyers Explain if Policies Will Pay Out
According to the CDC, more than 1.6 million people develop cancer each year in the United States, and approximately 600,000 die from it. It is the second leading cause of death. It is no wonder then that so many Americans want to purchase life insurance to ensure their families’ financial protection. But do life insurance […]
Power of Attorney Rights Over Life Insurance Policies: Can an Agent with a POA Change the Beneficiary Designation?
A power of attorney is a helpful legal tool many people use to make sure the rightful beneficiaries receive the life insurance money. At the same time, it is not that easy to understand. If it is not used correctly or the person with a power of attorney does not act in the best interests […]