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You know how life insurance should work — a policyholder purchases a life insurance policy to ensure the financial well-being of loved ones and pays premiums to maintain coverage until the policy term ends or the policyholder dies.

At that point, you would think that life insurance beneficiaries automatically receive the death benefit, however, this is frequently not the case. Life insurance companies thwart the goals of the policyholder by unfairly and incorrectly denying or delaying payment on life insurance claims. 

If you feel your life insurance claim was wrongly denied or delayed, you need a life insurance lawyer serving TN who can help.

Contact us at Boonswang Law for your free consultation today.

Boonswang Law’s TN Life Insurance Lawyers Have Helped Life Insurance Beneficiaries From:

Contact a TN Life Insurance Lawyer at Boonswang Law to Discuss Your Life Insurance Claim

Common Reasons Life Insurance Claims are Denied in TN

Understanding the common reasons for claim denial can arm you with the knowledge you need to combat unfair treatment. Here are some prevalent causes of claim denials in Tennessee.

The Policy Lapsed for Non-Payment of Premiums

One of the most common reasons for life insurance claim denial is a lapsed policy due to non-payment of premiums. If the policyholder fails to keep up with their premium payments, the insurance company may cancel any life insurance policies.

It’s crucial to note, however, that insurance companies must provide a grace period, usually 30 days before they can lapse a policy. If the insurer did not follow this rule, the claim denial might be challenged. Contact us at Boonswang Law — we may be able to help.

Contact the TN Life Insurance Lawyers at Boonswang Law Today For Help With Your Life Insurance Claim

Our experienced life insurance attorneys have been helping life insurance beneficiaries throughout Tennessee for decades. Our goal is to get you and your family the death benefits your loved one intended you receive.

Don’t let insurance companies take advantage of you! Contact us to discuss your claim and receive your no-obligation, free consultation. We are ready to fight for you!

The Policyholder Allegedly Misrepresented Themselves

Insurance companies often deny claims alleging that the policyholder misrepresented themselves on their application. This could include providing incorrect information about age, medical history, or lifestyle factors.

However, Tennessee law provides certain protections for policyholders, like the incontestability clause that limits the insurer’s ability to deny claims based on alleged misrepresentations after the policy has been in effect for two years. We can demystify the denial for you and advocate for you to get the payout you deserve.

Insufficient Proof of Death

To process a claim, insurance companies require valid proof of death, usually a certified copy of the death certificate. If the submitted proof is deemed insufficient or if there are discrepancies in the documentation, the claim might be denied. 

If you’re facing this issue, seeking legal help can guide you on the necessary steps to provide sufficient proof and ensure your claim is acknowledged.

The Policyholder’s Cause of Death is Allegedly Excluded from Coverage

Life insurance policies often have exclusions that define circumstances under which death benefits will not be paid. Common exclusions can include death by suicide within a certain timeframe after the policy is issued or death due to risky activities.

If your claim was denied due to an alleged policy exclusion, it’s critical to scrutinize the policy’s wording and consult a legal professional. Insurance companies can sometimes interpret exclusions too broadly in an attempt to avoid payment. At Boonswang Law, we’ll thoroughly review all documentation to present a strong case on your behalf.

Insurance Scams & Bad Faith: What to Watch Out For

Navigating the world of life insurance can be complex, and unfortunately, there are those who exploit this complexity for their benefit. Understanding these unethical practices can help protect you from falling victim to insurance scams and instances of bad faith.

Indexed Universal Life Insurance

Indexed Universal Life Insurance is a form of permanent life insurance that ties the growth of cash value to a stock market index. While it can provide substantial gains during market upswings, it also brings risks. 

Some insurers misrepresent these life insurance policies as low-risk, high-reward investment vehicles, downplaying the potential for losses during market downturns. 

It’s crucial to be cautious about any promises that seem too good to be true and consult an expert before investing in these complex products.

Churning Scams

“Churning” refers to an unethical practice where agents persuade policyholders to replace life insurance policies prematurely, often under the guise of obtaining better benefits. The primary motive behind this is usually the commission that the agent stands to earn from the new policy sale.

While churning, the agent may overlook or downplay the drawbacks such as potential surrender charges, loss of accrued benefits, and the commencement of a new contestability period.

Insurance Bad Faith

Insurance bad faith refers to the failure of an insurance company to deal fairly with policyholders, such as unjustly denying claims, delaying payouts, or interpreting policy language in an unfair manner. 

While insurers have a legal obligation to act in good faith, sometimes they put profits before their policyholders’ best interests. 

If you believe you’re a victim of insurance bad faith, seeking legal assistance can help you fight for your rightful benefits and potentially recover additional damages.

What to Expect When You Work with Boonswang Law’s TN Life Insurance Lawyers

Here’s what you can expect when you work with an experienced Boonswang life insurance lawyer TN:

  • Review the terms of the life insurance policy terms and provisions to determine coverage and exclusions and explain any problems to you
  • Review correspondence from the life insurance company to identify the reason or reasons for the delay or denial of your claim for death benefits
  • Negotiate with the life insurance company so we can get you fair compensation
  • Investigate claims and allegations made by the life insurance company in denying your claim to refute or cast doubt on those claims
  • If necessary, litigate your claim in court against the life insurance company when they are acting unreasonably or dishonestly in delaying or denying the payment of a valid life insurance policy

Life insurance companies are looking out for their profit margins. The more premium payments a life insurance company collects and the fewer life insurance benefits they pay out, the more money they make for their shareholders. 

The TN life insurance lawyers at Boonswang Law Firm will fight to get you the death benefits you deserve after your loved one’s death.

Frequently Asked Questions About Life Insurance in TN

How Long Do I Have to Dispute a Life Insurance Claim Denial?

Typically, 60 days if it was an employer-sponsored group life insurance policy. For all other life insurance, there is no time limit. However, the sooner you dispute a denied life insurance claim, the better in order to collect and preserve evidence that your claim should be paid.

Only the policyholder can change their life insurance beneficiary in Tennessee. If someone else changed the beneficiary, this is fraud. Contact an experienced TN life insurance attorney to help you contest that designation immediately.

If the primary beneficiary died before the policyholder and the policyholder did not update their beneficiary designation accordingly, the life insurance company will pay the death benefit to the secondary beneficiary or the contingent beneficiary. If the policyholder did not designate secondary or contingent beneficiaries, the death benefit can be paid to the policyholder’s estate.

Similar to the situation when the beneficiary has predeceased the policyholder, the life insurance company will pay out to the policyholder’s estate.

Yes, there is no law preventing you from sharing the death benefit with anyone you choose. It is common for a policyholder to name one child as a beneficiary. Nothing prevents you from sharing the death benefit with your siblings.

A beneficiary change can and should be contested if you suspect the change was made fraudulently or under duress. This type of case is very difficult to prove, so be sure to contact an experienced life insurance beneficiary attorney for help litigating this.

If you suspect a loved one had a life insurance policy but don’t know for sure, you will have to investigate. Search the contents of the policyholder’s safe-deposit box and desk drawers, and look through your loved one’s recent mail for premium notices and bank account statements for evidence of premium payments.

You should contest the claim denial. It is possible to still get paid if the lapse was not the fault of the policyholder. For example, if an employer failed to give the policyholder conversion papers or improperly administered the policy, the beneficiary will still get paid. 

If the life insurance company failed to send the policyholder the legally-required notices of lapse, the beneficiary will still get paid. If the policyholder was eligible for a disability waiver of premium and did not get it, the beneficiary will get paid.

No! A beneficiary changed after the date of the policyholder’s death is fraudulent. Contact an experienced life insurance beneficiary attorney immediately.

Yes, if they were supposed to be the beneficiary for any reason and someone else was named.