Were You Affected by Life Insurance Cancellations in NJ During Covid? Contact us for a free case review.
As an elderly or chronically ill adult, power of attorney abuse from a trusted loved one may result in financial losses, compromised estate plans, and emotional trauma. It’s crucial to recognize the early signs of power of attorney abuse in order to reclaim your autonomy and financial security. In this guide, we’ll identify the early … Read more
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
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
A life insurance policy may count as a marital asset, depending on what law or laws control the policy. Whether or not it is a marital asset, an insurance policy will be subject to both federal and state insurance law as well as community property law. Life insurance beneficiary rules for spouses and ex-spouses can be … Read more
Life insurance interpleaders are the legal actions filed when there is a dispute over who should be the beneficiary and receive the death benefit. Have you been served with an interpleader complaint? If not, do you think you should be a life insurance beneficiary, but the policyholder did not name you? Were or are you … Read more
What is an AD&D policy? Typically accidental death and dismemberment insurance (AD&D) is available as a rider to a life insurance policy or a health insurance policy. An AD&D rider covers the unintentional dismemberment or death of the owner of the policy. It is also referred to as a “double indemnity rider.” These are the … Read more
The answer is, maybe. Most life insurance policies contain a “war exclusion” clause, which specifically excludes coverage for acts of war like: Terrorism Revolution Military coup Insurrection Invasion Have you lost a loved one due to a purported act of war or terrorism, and your life insurance claim was denied? Don’t take no for an … Read more
Traveling Abroad? Your Life Insurance May Still Cover You Is life insurance valid if you move abroad? Once a person purchases a life insurance policy, one naturally presumes that coverage is in effect and return to their daily lives as such. Just like any other legal agreement, however, insurance policies contain a lot of fine print … Read more
When someone purchases life insurance, he or she must have an “insurable interest” in the insured. This means that the policyholder, i.e. the person who owns the policy and names the beneficiary or beneficiaries, will suffer financial loss if the insured dies unexpectedly. It is important to remember that this sort of relationship only needs … Read more
