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Does Life Insurance go through Probate? Is Life Insurance Part of a Deceased Person’s Estate? Generally speaking, no. Life insurance death benefits are paid out directly from the insurer to the beneficiaries, without going through probate. This is because life insurance is considered separate from the policyholder’s estate, such that it is not subject to … Read more
Life insurance is a necessity for family and loved ones, but it is an often misunderstood topic. These misconceptions don’t reflect the actual role life insurance plays in the average American’s life. This article covers important informative statistics about life insurance policies, how they impact you, and how they impact the average American. While it … Read more
You think you know how life insurance works – your loved one purchased a life insurance policy so that if something should happen to them, you would get a payout. Unfortunately, the process is rarely that straightforward. Like any other business, life insurance companies seek to make a profit. They only make money for their … Read more
What Are the ERISA Claims & Appeals Procedures? If you get health and retirement benefits through work, ERISA is supposed to protect your rights regarding these programs. If you are considering making a claim to access any of the benefits available to you–such as disability, health insurance, or life insurance–you will need to follow specific … Read more
What Questions Should You Ask an ERISA Attorney After an LTD Denial? Long-term disability (LTD) insurance is helpful if you are injured to the point that you need to take time off work to recover. However, sometimes the LTD claim gets denied, and you need to appeal the decision for a chance to get the … Read more
While almost any life insurance policyholder has the power to change their beneficiary designation at any time, a last-minute beneficiary change may indicate fraud, duress, or lack of competence. That the beneficiary change was made shortly before the death of the insured should raise suspicions that the new beneficiary may have made the change, the new beneficiary … Read more
Power of attorney for insurance purposes can mean any of several different things. Renowned national life insurance attorney Chad G. Boonswang explains everything you need to know about power of attorney in life insurance. If you are having trouble getting your payout due to a power of attorney, or your life insurance claim was denied due to … Read more
You’ve probably heard of the Contestability Period, which is the two years following the purchase of life insurance during which a life insurance company can contest the beneficiary’s rights to the death benefit due to a misstatement or omission on a policyholder’s application for life insurance and medical questionnaire. So what is an “incontestability clause?” … Read more
The Grace Period for Life Insurance Policies Both policyholders and life insurance beneficiaries should know what the grace period is for making premium payments on a life insurance policy. Life insurance companies frequently make administrative mistakes and let policies lapse while still in the grace period. In these instances, coverage should remain in effect and … Read more
Usually, life insurance companies take 30-60 days to process a beneficiary’s claim for death benefits, but payouts get delayed often. This article explains the various circumstances under which life insurance may reasonably delay paying your claim. If none of these reasons apply to your claim, contact the experienced life insurance lawyers at Boonswang Law. We have helped … Read more
