Beneficiaries do not need to hire a life insurance lawyer. Life insurance companies will most often pay benefits with little fuss or delay. You can expect to have little or no trouble getting the payment you deserve as a beneficiary when the:
- Policy has been in force for decades and premiums have been paid regularly.
- Face value of the life insurance policy is modest.
- Decedent was elderly and died from natural causes or an illness of old age.
- Insurance carrier is a larger, well-established firm with a good reputation.
Of course, there are equivalent warning signs that a life insurance settlement is not going to be quick or easy. There is always the risk that you may encounter opposition when:
- A policy has been in force only briefly
- The face value is large
- The cause of death was not clear-cut
- Dealing with a lower-tier insurance firm
Life insurance companies sustain profits by collecting premiums, not by paying benefits. If they can reject a claim with some plausible excuse, they won’t hesitate. In those cases, a life insurance attorney may be essential to get the payment you deserve.
Why Consult a Life Insurance Law Firm?
Hiring a skilled attorney can be critical to getting the results a client wants. So, why are many people reluctant to reach out for legal assistance? Many people will find reasons to delay searching for a lawyer. As attorneys who focus on life insurance cases, we find that clients set aside the job of finding a life insurance lawyer because they:
- Do not realize how much help they can get from an attorney experienced in life insurance law. The average person doesn’t automatically think about getting a lawyer when frustrated by insurance company technicalities.
- Don’t know an attorney who focuses on this area. Because insurance is regulated in great detail by state governments, only a few attorneys in any city will choose to spend the time on legal research necessary to concentrate on this case area.
- Have trust issues. A lot of adults have difficulty trusting lawyers, especially with personal financial information. Over the years, bar associations have been ruthlessly weeding out untrustworthy attorneys who act contrary to professional ethics. Most attorneys are trustworthy women and men who take their commitment seriously.
- Think they will get a smaller recovery if they hire a lawyer. If your attorney can get the insurance company to settle, then yes, he or she will get a fee. But you will negotiate this payment beforehand. You also have to balance that against the probability that without a lawyer’s help you will get nothing. Does it make sense to receive nothing rather than the majority amount of your claim?
Are You Losing Out on an Overdue Life Insurance Claim?
Is the insurance company still giving you the run-around, claiming they’re still “investigating” a claim long after the paperwork was submitted? You can’t rely on the interest penalties for delayed life insurance settlements to make the company act fairly.
You were named the beneficiary of a life insurance policy because someone thought it important you have financial protection after he or she is gone. If the insurance company is acting in bad faith to deny your claim, you are being cheated. Don’t let this happen to you.
The attorneys at Life Insurance Law are ready to stand with you. We act as your legal representatives to demand payment from insurance companies that fail to pay benefits—or pay too little—according to the policy that was issued. Fill in the online contact form or call (215) 531-7961 to connect with our life insurance claims lawyers who face off every day with insurance company officials.
