New York Life Insurance Disputes

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

You can expect the following from our New York 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 or denied life insurance 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 New York life insurance lawyer can help you appeal the decision and may still be able to recover the full amount of your claim.

How am I protected by state insurance laws in New York?

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

Article 32 of New York Consolidated Law is the primary regulating force behind the insurance industry of New York, but other legal provisions have also been adopted as consumer protection laws. The New York State Department of Financial Services provides oversight for the industry. The most important rules that may apply in your case are:

  • The “free look” period. Any resident of New York buying a life insurance policy has 10 days to back out of coverage and receive a full refund of any premiums he has paid.
  • 31-day payment grace period. This ensures that a New York life insurance policy cannot be canceled due to a reasonably late payment. The policyholder has 31 days to make the payment, during which time the provider cannot cancel the policy or deny coverage.
  • Timely payment on claims. When a life insurance claim is filed, a New York insurance provider is required to pay the amount to the beneficiary as soon as possible and with no unreasonable delay. Payments are typically made within a month after the provider receives proof of death. If the claim takes longer than 30 days to settle, the insurance company is required to pay accrued interest on the proceeds.
  • Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the Life Insurance Company Guaranty Corporation of New York. In the event that your life insurance company goes out of business, we can work with the Guaranty Corporation to compensate your policy. This guarantee is limited to $500,000 maximum for lost benefits per person, regardless of the number of life insurance policies covering him or her. Your insurer must be properly licensed in New York for this protection to apply.

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 New York life insurance attorney.