Colorado Springs Life Insurance Claims Lawyer

Colorado Springs Life Insurance Claims Attorney

Dealing with life insurance claims can be an extremely overwhelming process. This is especially true when it happens in conjunction with an emotionally trying time in one’s life. These policies have been designed to provide financial security to various beneficiaries, so when the process becomes delayed by disputes or denials, it can cause significant frustration. If this is happening to you, hiring a skilled Colorado Springs life insurance claims lawyer can be of significant service.

At McDermott Law, LLC, we have seen over the years how important life insurance benefits are for those who are suffering the loss of a loved one. This experience is what drives us every day to provide compassionate and effective legal support that holds insurance companies accountable under federal and Colorado law. Whether you are facing a claim denial or need help understanding policy terms, we are the team to help make it all happen for you. Our expert lawyers team at McDermott Law, LLC is dedicated to ensuring you receive the benefits you’re entitled to.

What Are the Most Common Life Insurance Claims Disputes That Need an Attorney?

For many families, life insurance is seen as a lifeline when dealing with the loss of a loved one. It also helps add a sense of security to those who are still alive and that their loved ones will be financially protected if they were to pass away. That’s why it’s particularly frustrating when disputes happen along the way. A disability law attorney can also be crucial in these situations, especially if the claim involves any disability-related issues, ensuring that you have the support needed to fight for what you deserve.

Some of the more common disputes that require the experience of a life insurance lawyer to help solve include:

• Beneficiary disputes. One of the more emotionally taxing circumstances is when there are disagreements happening between the loved one’s beneficiaries. This could happen if the policyholder made unexpected changes shortly before their passing or if there is suspicion they made certain decisions under duress or diminished capacity.
  For example, a beneficiary might try to argue that someone unlawfully influenced the policyholder to alter their beneficiary designations.
• Claim denials for alleged policy violations. A common reason why insurance companies deny a life insurance claim is when they believe the policyholder failed to disclose important information during the application process. This could include not reporting a certain medical condition or admitting to using tobacco.
  Even the smallest of omissions could make the claim vulnerable to being denied, which can leave grieving family members without the financial support they were expecting to rely on.
• Lapsed policies. Another common reason why claims are frequently denied is when an insurer claims the policy has lapsed due to non-payment of premiums. However, just because an insurance company is claiming there has been a lapse does not always mean it is true.
  A lapse can sometimes occur due to a misunderstanding or missed notice, which is especially understandable if the policyholder was ill and unable to manage their finances before they passed away.
• Disputes over cause of death. Claims can also be denied based on how an individual has died. For example, those who commit suicide, use drugs, or have engaged in a high-risk activity often result in denied life insurance claims. Insurance mistakes to avoid include not fully understanding the terms of your policy, failing to disclose relevant information when applying for coverage, or neglecting to update your beneficiaries.
  Unfortunately, insurers will sometimes use these exclusions more broadly than they should. This happens even when the circumstances are unclear or don’t fit as neatly into the policy’s terms as they would like. These disputes can be challenged to reverse a claim denial.
• Misinterpretation of policy terms. Insurance policies are not always the easiest material to read and understand. They are notoriously dense and filled with technical legal jargon that most of the public is familiar with. Insurers will sometimes exploit vague or unclear terms to try and justify reducing or denying payouts.If this has happened to you, an attorney can step in to review the policy’s terms, leveraging their understanding of this space to clarify specific policy terms.

FAQs

Is It Hard to Sue a Life Insurance Company?

While any lawsuit can present its own set of challenges to manage, suing a life insurance company is not an impossible feat with the help of an experienced attorney on your side. It’s true that insurance companies have extensive legal resources to try and combat challenges to their claim denials, but having your own legal resources can help to balance the playing field. An attorney will help identify errors in their reasoning and build a case for a claim reversal. If you’re in Colorado Springs, our team can provide the support and expertise you need to navigate the process.

What Is the Average Payout for Life Insurance Claims?

Everyone’s average payout for a life insurance claim will vary greatly. The most influential factors are the policy’s coverage amount and terms. Term life policies are generally known to provide higher benefits when compared to smaller whole life or final expense policies. An insurance company may reduce a payout for reasons like loans against a policy or if the policyholder had any outstanding premiums they never paid.

What To Do If a Life Insurance Company Will Not Pay a Claim?

If a life insurance company has denied paying a claim, the first step is to identify why this happened in their denial letter. A denied claim does not mean you don’t have a chance to win an appeal. Sometimes a denial is incorrectly made based on an alleged policy lapse that isn’t factual or an exclusion considered invalid. To combat this, gather all relevant documents and correspondence with the insurer so your attorney can help work on your case.

What Is the Time Limit for Life Insurance Death Claims?

The time limit to file a life insurance death claim largely depends on the terms of the specific policy. Most policies are flexible and allow a beneficiary to file a claim any time after a policyholder has passed away. Insurance companies, however, still generally prefer claims to be submitted within a reasonable timeframe. To ensure that you do not experience a claim denial due to a lack of timeliness, hire a lawyer immediately to stay on top of your deadlines in Colorado .

Contact Our Lawyers Team to Get Help with Life Insurance Claims

If you are dealing with a dispute related to someone’s life insurance and are unsure how to handle the situation, hiring a lawyer to investigate and manage the process can be a huge help. Contact McDermott Law, LLC, today to access our experience in this space and maximize your chances of overcoming the life insurance dispute giving you trouble. We look forward to helping you.