What should you do if your life insurance claim is denied?
The life insurance attorneys at Life Insurance Law work to recover full compensation for life insurance beneficiaries in West Virginia. If your life insurance claim has been denied or delayed, contact us today for a free case evaluation.
You can expect the following from your West Virginia 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 West Virginia 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 West Virginia?
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 West Virginia has life insurance laws to help protect consumers. Here is a summary of some of these West Virginia life insurance laws. Of course, you should definitely contact us to discuss your case specifically and see how state laws impact your particular situation.
Chapter 33 of the West Virginia Code is the primary regulating force behind the insurance industry within the state of Maryland, but other legal provisions have also been adopted as consumer protection laws. The West Virginia Insurance Commission provides oversight for the insurance business in the state.
The most important rules that may apply in your case are:
- Four-week payment grace period. This ensures that a West Virginia life insurance policy cannot be canceled due to a reasonably late payment. The policyholder has four weeks 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 West Virginia 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 interest penalties being added to the final total. State law does not give a specific time limit for the settlement process, so you should read your life insurance policy closely to see how your insurer honors this requirement. Payments are typically made within a month after the provider receives proof of death.
- Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the West Virginia Life and Health Insurance Guaranty Association. Your premium payments must be up-to-date, and the insurer must be properly licensed to operate in West Virginia. 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 for lost death benefits and $100,000 maximum for lost cash surrender.
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 West Virginia life insurance attorney.
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