Life Insurance Lawyers Serving New York

New York life insurance claims are governed largely by Article 32 of the New York Insurance Law, which sets rules for policy lapses, contestability, applications, and payment of death benefits.

Grace Period: Under New York Insurance Law § 3203, most individual policies provide a 31-day grace period or one month for missed premiums. Certain flexible-premium policies receive a 61-day grace period.

Lapse Notices: Under § 3211, many policies cannot be terminated for nonpayment unless the insurer sends the required premium notice. For scheduled-premium policies, that notice generally must be mailed 15 to 45 days before the payment is due.

Contestability Period: A policy generally becomes incontestable after it has been in force during the insured’s lifetime for two years, subject to limited statutory exceptions.

Application Statements: Under § 3204, answers in a life insurance application are treated as representations rather than warranties. The application generally must also have been attached to the policy when issued before the insurer can use it as evidence.

Interest on Benefits: Under § 3214, interest on life insurance proceeds generally runs from the insured’s date of death until payment.

Life insurance laws are different in every state, so a claim in New York may be handled differently from one arising in Rhode Island or Vermont.