Usually not right away. In most cases, a life insurance company doesn’t know the insured has died until someone tells it, so the claim starts when a beneficiary or family member contacts the insurer. Insurers do have to search for deaths and beneficiaries in some situations, but you shouldn’t count on hearing from them. If…
This article will explain the common ways in which life insurance companies underpay valid beneficiary claims for death benefits and the reasons why.
Recently there has been a lot of successful litigation by beneficiaries of group life insurance policies provided by employers. In these cases, the insured either retired, quit, or was fired, or became disabled and stopped working, and then passed away.
What happens when multiple people claim they each are entitled to life insurance benefits after the death of the insured? How does an insurance company determine who is entitled to the benefits? If you believe you are the rightful beneficiary to a life insurance policy, you will likely need the expertise of a trusted life…
For the most part, the process of naming beneficiaries to a life insurance policy is the same across all states. In fact, unless prohibited to do so by law, anyone can be named as beneficiary to a life insurance policy, regardless of whether he or she has any vested interest in the insured. Understanding the…
After facing a loved one’s death, life insurance can help provide necessary financial security to pay for funeral expenses and supplement lost income. In most cases, when someone takes out life insurance, he or she lets the named beneficiaries (often family members of the insured) know about it. That way, when the policyholder dies, the…
National life insurance law firm, Boonswang Law, explains who gets money if the beneficiary is deceased, dies soon after or at the same time as the insured, dies while the claim is under review, or if the life insurance beneficiary designation is otherwise invalid.
