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.
Both policyholders and life insurance beneficiaries should know what the grace period is for making premium payments on a life insurance policy. Life insurance companies frequently make administrative mistakes and let policies lapse while still in the grace period. In these instances, coverage should remain in effect and the life insurance company should pay beneficiaries’…
Usually, life insurance companies take 30-60 days to process a beneficiary’s claim for death benefits, but payouts get delayed often. This article explains the various circumstances under which life insurance may reasonably delay paying your claim.
Life Insurance Misrepresentation defined by a national life insurance beneficiary attorney.
Insurance companies often use unfair insurance claim practices to avoid paying the total amount of a claim that an insured person is due. They may either reject the claim outright or reduce the payout substantially. When someone has dutifully paid their insurance premiums over time and expects that the insurance will be there if they…
What is a vanishing life insurance premium? Is it a good thing? Perhaps, for some people. Learn about vanishing life insurance premiums from noted life insurance lawyer Chad G. Boonswang, Esq. in this informative article.
What happens when a life insurance application contains bad information? Wrong or false information can invalidate a life insurance policy. An insurance company can contest a life insurance contract due to application fraud. Even when a mistake is unintentional, any misrepresentation or omission on a life insurance application can make it difficult for your beneficiary…
Many causes of death are excluded from coverage in life insurance. Is murder one of them?
What is life insurance conversion privilege, and how does it affect policyholders and their beneficiaries? Find out from the life insurance lawyers at Boonswang Law, who have gotten beneficiary clients paid in every state in the nation when life insurance companies delay or deny claims for death benefits.
If your loved one’s life insurance claim was denied due to medical records, it might be because the insurer found an undisclosed condition. For example, if a previous surgery wasn’t mentioned, the company could use that omission to deny your claim.
