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Tuesday, January 28, 2014 Why Your Life Insurance Claim Is Denied Article 3 of 6 in Life Insurance Claims, Attorneys, and Lawsuits
If your life insurance claim is denied, you need to find out why and decide what action is available to you. A life insurance claim denial can be difficult, but if handled appropriately you may be able to get the benefits. TIP: If your life insurance claim is denied, you should contact an experienced insurance attorney as soon as possible. An attorney can research the claim denial and assist you collecting any benefits wrongfully denied. Life Insurance Claims Denied for False Information The most common reason a life insurance claim is denied is an alleged material misstatement made by the insured on the application. A material misstatement is one that is stated on the application that if not stated would have clearly led to a refusal by the insurer to issue the policy. Any statement, or omission, that hides the truth about a major health problem which could have influenced the insurance underwriting, the decision to offer a policy, or the cost of insurance is considered a material misstatement or omission. When life insurance claims are denied for material misstatements, the company is rejecting coverage because it was misled at the time insurance was purchased. TIP: Denying coverage for a material misstatement can happen after the life insurance contestability period has expired. It is not uncommon for insurance companies to look for material misstatements or funds i
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Why Your Life Insurance Claim Is Denied
Article 3 of 6 in Life Insurance Claims, Attorneys, and Lawsuits
If your life insurance claim is denied, you need to find out why and decide what action is available to you. A life insurance claim denial can be difficult, but if handled appropriately you may be able to get the benefits.
TIP: If your life insurance claim is denied, you should contact an experienced insurance attorney as soon as possible. An attorney can research the claim denial and assist you collecting any benefits wrongfully denied.
Life Insurance Claims Denied for False Information
The most common reason a life insurance claim is denied is an alleged material misstatement made by the insured on the application. A material misstatement is one that is stated on the application that if not stated would have clearly led to a refusal by the insurer to issue the policy. Any statement, or omission, that hides the truth about a major health problem which could have influenced the insurance underwriting, the decision to offer a policy, or the cost of insurance is considered a material misstatement or omission. When life insurance claims are denied for material misstatements, the company is rejecting coverage because it was misled at the time insurance was purchased.
TIP: Denying coverage for a material misstatement can happen after the life insurance contestability period has expired.
It is not uncommon for insurance companies to look for material misstatements or funds i