Accidental Death Claim Denied Due to the Felony Exclusion?
An accidental death benefit is a benefit that is paid by a life insurance company in the event of an insured’s accidental death. Accidental death policies usually outline which deaths are considered accidental.
If You Can No Longer Pay Premiums on Your Life Insurance Policy
When an insured policyowner can no longer keep making premium payments on his life insurance policy, there are several options available. Cash in the policy The policy may be cashed in. Depending on the cash value of the policy, this may be a good choice for elderly insureds who need funds to pay for their […]
How to Transfer Ownership of a Life Insurance Policy
When a person takes out a life insurance policy, he must fill out a life insurance application. The application asks the applicant to name the policyowner, insured and beneficiary. In many cases, the insured is the policyowner. Sometimes, however, they are two different individuals. A policyowner may also be a trust with the designated trustee. […]
New Law Offers More Protections for Life Insurance Beneficiaries and Policyholders in New York
Residents of New York who purchased life insurance from an insurance company that goes out of business will still be covered under the new law. In November 2014, New York Governor Andrew Cuomo signed a bill that removed a cap on a New York fund that pays benefits to New Yorkers who bought life insurance […]
Symetra Paid More Than $1 Billion to Life Insurance Beneficiaries.
Departments of Insurance of several states announced a $1.2 million settlement agreement with Symetra Life Insurance and Symetra National Life Insurance Company in connection with the insurer’s use of the Social Security Administration’s Death Master File[1]. The settlement was a result of a multi state investigation led by Illinois, Florida, New Hampshire, North Dakota, Pennsylvania, […]
Denied FEGLI Claims Due to Invalid Beneficiary Designation
Beneficiary changes under a FEGLI policy may be deemed invalid if not performed according to the laws controlling Federal Employees’ Group Life Insurance policies. In many cases, the validity of a change of a FEGLI beneficiary nomination is disputed after the insured’s death and after two or more competing claims have been filed under the […]
Delayed SGLI Claims /SGLI Beneficiary Dispute / SGLI Attorney
The SGLI policy may be the largest asset for many servicemembers’ family members. Careful estate planning and management of SGLI coverage is essential to financial security. An important part of taking out a SGLI policy is electing the amount of SGLI coverage and designating SGLI beneficiaries on the SGLV form 8286. The SGLV form 8286 […]
AD&D Claim Denied Due to a Sickness Exclusion
AD&D (accidental death and dismemberment) insurance provides coverage in cases of accidental death and dismemberment. In regard to death, AD&D is available only when the insured died as a result of an accident. an AD&D policy will not pay benefits for deaths due to natural causes (which are generally covered by regular life insurance).
Collect a Denied Mortgage Life Insurance Claim
Mortgage life insurance, or mortgage insurance as some people call it, is a life insurance policy that you buy on the life of another person with whom you may have a mortgage together. In the event of that person’s death, the proceeds from the mortgage life insurance policy will go towards paying off the remaining mortgage […]
Transfer Ownership of a Life Insurance Policy From Spouse
Often people buy life insurance coverage on their spouse naming themselves beneficiaries and policyowners. This provides spouses with guarantee of financial security in case of one spouse’s death. It also gives the premium-paying spouse control over the maintenance of the policy and protects the policy from lapse.