Delayed Life Insurance Claims
People often assume that, when they pass away, their life insurance policies will provide financial security and stability for the loved ones they leave behind. It is the main reason why most of us take out life insurance policies. Life insurance policies are supposed to offer protection from financial losses incurred due to the death of a loved one. Policies are considered legally binding contracts between the policyholder and the insurance company.
Here’s how it’s supposed to work:
- When a person passes on, the beneficiary listed on the life insurance policy is supposed to receive a set payment from the insurance company
- In exchange, the person will have paid monthly premiums to the insurance company to maintain the terms of his/her life insurance contract
Here’s the reality:
- Some beneficiaries do not receive payment from the insurance companies or their payments are unjustly delayed
- Why? Because insurance companies do everything possible to make money by collecting premiums versus paying out claims
- Unfortunately, this means that many families who have lost loved ones not only have to contend with their devastating losses, but also with financial hardship
If your life insurance claim has been delayed, contact us at Boonswang Law. Our life insurance lawyers have helped many clients recover funds from large and small insurance companies. Please call us if you have any questions. We are here to help.