Picking up from where Life Insurance Claim Denials: When to Fight Back (Pt. 1) left off, below, we will continue discussing some of the most common circumstances that can lead to life insurance claim denials and when people should challenge these denials to get the payouts they likely deserve.
More Instances When You Should Be Ready to Fight Life Insurance Claim Denials…
2. When the life insurance claim is filed in the “contestability” period
When claims are made against life insurance policies within the first two or so years of the policy being taken out, insurers tend to be far more intent on finding ways to try to issue life insurance claim denials.
In general, this is because paying benefits out on policies that have been active for less than two years will likely end up resulting in a loss for insurers; in other words, insurers will generally not have collected enough premium payments in this time frame to have made any profit if they end up having to pay a claim against the policy.
Therefore, if your loved one’s policy is less than two years old and you are making a claim, be warned that the chances of receiving a life insurance claim denial are high and that you should consult with an attorney if you do end up being denied a payout.
3. When claims are made as an application is being processed
Death can be as unpredictable as life, and in some cases, people may end up having to make a claim against a temporary life insurance policy that is in effect as the application for their policy is being processed with an insurer. When this happens, insurance companies may be that much more critical of your claim and may end up reviewing every detail of your application (and the circumstances of the death) with painstaking detail.
In these cases, it can be far more likely that insurers try to claim material misrepresentation on an application or even that some payment was missed in an effort to issue life insurance claim denials.
Be sure to look for the upcoming conclusion for this blog for some final thoughts regarding life insurance claim denials.
Denver, Colorado Life Insurance Lawyers at McDermott Law, LLC
Has your life insurance claim recently been denied? If so, you will need a skilled, experienced lawyer who will defend your rights and help you obtain the full amount of the payouts you need and deserve. With more than three decades of combined legal experience, the Denver life insurance lawyers at McDermott Law, LLC have been committed to helping people stand up to insurance companies and ultimately secure the highest possible compensation.
For more info about your case, set up a free initial consultation with our lawyers today by calling us at
(303) 964-1800 or by emailing us using the contact form on this screen.
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