New Jersey Life Insurance Lawyer to Get Your Owed Benefits

New Jersey law states that you have two years to file a dispute in the event of a life insurance claim denial. Having a life insurance lawyer handle your dispute is highly recommended so you can feel confident that everything is being done correctly.

In some situations, both the policyholder and the beneficiary have passed away. If a policyholder makes no provisions for a secondary or contingent beneficiary, the benefits may pay to the policyholder’s estate.

In some cases, a life insurance policy lists a minor as the beneficiary. If the beneficiary is still a minor when the policyholder passes away, the courts will usually choose a custodian to oversee the minor beneficiary’s death benefits. The policyholder can also appoint a custodian. 

Nothing can really be done to stop the custodian from using the minor’s inheritance for their personal gain. It is often recommended that the policyholder set up a trust and designate the minor as the beneficiary of the trust. We suggest hiring an estate planning attorney to help you understand the legalities of setting up a trust.

Unfortunately, there is no easy answer to this question. There is no nationwide online database that lists every person who has purchased a life insurance policy. If you’re unsure whether your deceased loved one had a life insurance policy, there are a few things you can do to find out. 

If possible, contact their employer to ask if they offered group life insurance coverage. You might also look through old documents in search of life insurance paperwork and review bank statements to locate paid insurance premiums.

Please remember: if a life insurance policy lists you as the beneficiary, you are responsible for notifying the insurance provider of the policyholder’s passing.

There may be cases where a policyholder has chosen to list only one of their children as a beneficiary on their life insurance policy. Although the beneficiary will not be able to add their siblings to the policy after the policyholder’s death, there’s nothing stopping them from sharing their benefits once they pay out.

In general, it can be difficult to contest last-minute changes made to a life insurance policy. Policyholders can change beneficiaries while they are alive as long as they are of sound mind and not under duress when they make the changes. 

Irrevocable beneficiaries, however, are an exception to this role. The term irrevocable beneficiary usually refers to the policyholder’s spouses and children. Divorce or estrangement does not remove this status. An irrevocable beneficiary must approve all policy changes that affect their benefits. Some policies may even require them to consent to all changes.

If an insurance company notifies you that you were removed as an irrevocable beneficiary from a life insurance policy, you may be able to contest this.

Life insurance policies typically have a grace period for unpaid premiums, so you may still be able to receive death benefits even if the policyholder missed a payment. An experienced life insurance lawyer at Boonswang Law can help you understand what your rights are.

No. The policyholder generally is the only person who can make changes to the policy. If you receive paperwork showing that the beneficiary changed after the policyholder’s death, it is most likely fraudulent.

In some cases, yes. With a divorced or remarried policyholder, confusion may arise over who gets what. An experienced life insurance attorney can explain what you’re entitled to as the deceased’s spouse or former spouse.