Life Insurance Attorney Kansas City MO
The purpose of life insurance is to provide support and security for your family when a loved one dies. The policy is intended to alleviate financial stress and provide for the smoothest transition possible during a heartbreaking time.
Unfortunately, far too often insurance companies deny a legitimate life insurance claims for the purpose of enriching themselves at the expense of regular people. What do you do then?
Saxton Law Firm can help you fight back. Our firm has considerable experience confronting life insurance companies when a claim is denied. Contact Saxton Law today for a FREE consultation on your life insurance claim and we will help answer your questions.
Why Are Life Insurance Claims Denied?
A life insurance policy is a contract between the policyholder and an insurance company to pay a death benefit when the policyholder dies. To begin the life insurance payout process, the insurance company must be notified immediately of the policyholder’s death. The beneficiary of the policy must provide the required documents and paperwork to initiate the claim and the insurance company will typically accept or deny the claim within 30 – 40 days and will issue payment within 30 – 60 days.
There are four primary reasons why your life insurance claim may be denied – policy delinquency, material misrepresentation, contestable circumstances and a documentation failure. Here is a quick overview of each reason that a life insurance claim may be denied.
- Policy Delinquency – Maybe the most common reason for a life insurance claim denial is policy delinquency, which occurs when the policyholder fails to make payments on time and allows the policy to lapse.
- Material Misrepresentation – Misrepresentations are a common reason for life insurance claim denials and occur when there are errors on the initial life insurance application that leave out important personal, medical and health information like – income, medical treatments, ailments and immigration status. HOWEVER, the misrepresentation usually must be “material” and contribute to the death. If not, then usually the claim should be paid.
- Contestable Circumstances – A life insurance claim can be denied when the death occurs outside the scope of coverage or within a contestable time period. Most life insurance policies possess a contestable time period an initial time from the beginning of coverage. Additional circumstances that may be contested include suicide, dying when performing a crime, dying during military service and more.
- Documentation Failure – A common reason that a claim is denied is documentation failure on the part of the family or beneficiaries of the policy. This occurs when those family members do not provide the correct paperwork and documentation to receive the payout.
How Can a Life Insurance Claim Denial Attorney Help in Kansas City?
Your life insurance claim has been denied – but what happens next? When a claim is denied, the insurance company must provide a written explanation of why your claim has been denied and the insurance company may cancel the policy or refund any premiums paid.
If your life insurance claim has been denied, contact Saxton Law Firm. The Saxton Law Team can help you navigate the legal process and get payment for your life insurance claim.
Set up your free consultation by calling us at 816-810-3207.