Helping South Dakota Victims of Delayed or Denied Life Insurance

What should you do if your life insurance claim has been denied?

The attorneys at Life Insurance Law work to recover full compensation for life insurance beneficiaries in South Dakota. If your life insurance is delayed or has been denied, contact us today for a free case evaluation.

Our life insurance lawyers live and work in South Dakota. You can expect the following from your South Dakota life insurance lawyer:

  • A free case evaluation where we go over the facts of your claim in detail.
  • Explanation of all legal terms and documents.
  • An attorney who will contact your provider to get a delayed claim paid fast.
  • Full disclosure on court costs and attorney fees before you agree to retain counsel.

Many claims will be denied by providers based on material misrepresentation. This means that the policyholder provided false information, such as age or health history, that makes the policy invalid. In these cases, a South Dakota life insurance lawyer can help you appeal the decision and may still be able to recover the full amount of your claim.

How do state insurance laws in South Dakota protect you?

The U.S. Constitution gives the federal government the power to regulate interstate commerce. In the case of life insurance policies, the federal government has largely allowed the states to take the duties of regulating the insurance industries and of providing consumer protection.

The state of South Dakota has life insurance laws to help protect consumers. Here is a summary of some of these South Dakota life insurance laws. Of course, you should definitely contact us to discuss your case specifically and see how state laws impact your particular situation.

Title 58 of the South Dakota Codified Laws is the primary regulating force for the insurance industry within the state of South Dakota, but other legal provisions have also been adopted as consumer protection laws. The South Dakota Division of Insurance — part of the Department of Labor and Regulation — provides oversight for the insurance business in the state.

The most important rules that may apply in your case are:

  • The “free look” period. Any South Dakota resident buying a life insurance policy has 10 days to back out of coverage and receive a full refund of any premiums he has paid. No penalty can be charged for backing out of the contract during the free look period. Some insurance companies may grant a longer period, but the law guarantees you will at least ten days to change your mind.
  • Protection of personal information. State laws require that insurance companies safeguard your personal information and protect your privacy. Except in very limited circumstances, your insurer cannot release your private medical data without your consent. Your insurance company is required to honor your requests for medical information relevant to your policy. Each company is responsible for implementing its own system of privacy protection, so you should check with your insurer or the terms of your policy for specifics.
  • Timely payment on claims. When a life insurance claim is filed, a South Dakota insurance provider is required to pay the amount to the beneficiary promptly. Failing to settle claims in a prompt, fair, and equitable manner can result in penalties against the insurer. Payments are typically made within a month after the provider receives proof of death. If the claim takes longer than 60 days to finalize, the insurance company may required to pay accrued interest on the proceeds. However, specific language in your insurance policy will define the company’s claims procedure, which may override the interest requirement.
  • Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the South Dakota Life and Health Insurance Guaranty Association. You must be up-to-date on paying your premiums, and the insurer must be properly licensed to operate in South Dakota. In the event that your life insurance company becomes insolvent, we can work with the Guaranty Association to compensate your policy. This guarantee is limited to $300,000 maximum per individual, even if the deceased person was insured for a larger amount or covered under multiple policies.

Why you should work with us

The attorneys at Life Insurance Law work with clients across the country to recover denied and delayed life insurance claims. Whether we agree on a settlement or take your case to court, our attorneys will fight for your best interests every step of the way.

If your insurance claim has been denied or delayed, call our offices today to get advice from a South Dakota life insurance attorney.