Monday, November 12, 2012

Life Insurance Denial

Life Insurance Denial


When you purchased life insurance you purchased is as a safety net (honestly, you hoped you never had to claim it). We hope that nothing will happen to us or our loved ones, but in the event that it does, we want those near us not suffer financial hardship.

But when an insurance company sells you a policy, it as a gamble. They have a system called an actuarial table, that virtually guarantees they will win overall. Just take a look at the record profits posted by major insurance companies in recent years and you will notice thier system works (works very well, to be honest). However, insurance companies are not satisfied with just winning—they want to win big, which they do by looking for an excuse to deny every claim, including yours.

One of the most common tactics life insurance companies use to deny your claim is accusing you or your loved one of making a "material misrepresentation" on your application for the policy. Often they will claim your loved one misrepresented his or her:
  • Age
  • Alcohol, drug, or tobacco use
  • Occupation
  • Employment history
  • Dangerous hobbies, pastimes, or behavioral traits
  • Ownership of other life insurance policies
They can claim that these material representations invalidate the policy, even if they had nothing to do with the cause of death.

In these cases, the material misrepresentation is ripe for legal argument. As an experienced life insurance attorney I can make sure the policy is honored even in the face of such claims by the insurance company.

With a lawyer on your side, the insurance company must follow all the rules (both legally and contained within the policy) thereby assuring you will not have to suffer from a "blanket denial."

First if you have lost a loved one, let me be the first to state that I am sorry for your loss. Second, if you have received a denial from your life insurance carrier, or expect one, call the Attorney at RAXTER LAW at  (951) 226-5294.

The consulation is FREE and most cases are accepted on a contingency basis - which means no recovery no fee. We represent client in all of southern california.

 

1 comment:

  1. Yes it is but when an insurance company sells you a policy, they look at it as a gamble. They have a system that they play, called an actuarial table, that virtually guarantees they will win out over all their policyholders. And it works, if you look at the record profits posted by major insurance companies in recent years. But like most gamblers, insurance companies are not satisfied with just winning—they want to win big, which they do by looking for an excuse to deny every claim, including yours.

    Thanks
    David
    Business Attorney California

    ReplyDelete