LIFE INSURANCE CLAIMS
What is the Purpose of Life Insurance?
Life insurance policies are usually purchased with the thought in mind of protecting family from funeral and burial expenses, and as a means of providing adequate financial support to the beneficiary or beneficiaries when the policyholder dies.
There are usually two types of life insurance contracts: “term life” and “whole life.” Life insurance policies are typically obtained by completing an application, undergoing a physical examination, paying the initial premium, and designating the persons to receive the money upon the insured’s death. If the policyholder fails to name a beneficiary, then the payee will become the named insured’s estate.
Why Are Some Life Insurance Claims Denied?
Because life insurance policies are like many other contracts, it’s important to read every policy to understand its terms. Although most life insurance claims are paid without any dispute, there are instances which arise that result in a denial.
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Some of the reasons why a benefit may not be paid include:
- Failure of the insured to disclose an adverse medical history spacer within the life insurance application which results in spacer a material misrepresentation.
- The suicide of an insured, while sane or insane, spacer within two years from the date of issue of the life insurance policy.
- The lapse of the life insurance policy for unpaid premiums.
An Experienced Attorney Can Help You
While the three instances above may appear to be good reasons to deny a claim, there may also be proper legal actions in response. For instance,
what constitutes a material misrepresentation?
Maybe the insured had no knowledge of a pre-existing medical condition? Was the policyholder’s death really a suicide or a merely an accident?
Maybe the premiums were not paid because the insured was terminally ill and not physically able to make the payments?
The lawyers at our firm have extensive experience in handling life insurance claims and we are well aware that there are many reasons why an adjuster may wrongfully refuse to pay a claim.
If you believe that a life insurance claim has been wrongfully denied, and you would like to consult with a Houston attorney who has the experience to understand your legal needs, then contact a lawyer at Joel A. Gordon & Associates for your free consultation and legal guidance concerning your predicament.Don’t Delay! Call Us Now Before Time Runs Out!
Our Houston Personal Injury Lawyer are ready for you. Call 281-943-5555 right now.
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