Just a few weeks ago, the mammoth insurance company American International Group (AIG) ended a longstanding legal investigation into its business practices. AIG agreed to pay $300 million to settle allegations it regularly denied life insurance benefits by failing to inform beneficiaries. The money will be divided among 39 state governments and the District of […]
The act of filing an insurance claim can give victims a feeling of closure. Compensation for a wrecked vehicle after a car accident, a life insurance payment after a loved one passes away—these things are often painful, but necessary for victims to process what happened and allow them to move on. But for victims of […]
Some common legal terms and definitions: Accidental death: A case where death was unintentional due to an accident or disaster which is usually covered under a specific clause of life insurance Beneficiary: The person who receives the assets and monetary awards of the deceased, usually named in writing in both will and the insurance policy […]
Some employers provide a wide spectrum of benefits for their employees. While retirement accounts and health insurance policies get most of the attention, today we’ll be talking about another job benefit: life insurance. Often, corporations will buy life insurance policies to cover key employees as a way to protect their own interests; the corporation collects […]
Anyone who has ever filed an insurance claim knows what a pain it can be. From car accident claims to home damage after a storm, the mere act of reading your policy is a chore. The terms and definitions in your coverage seem to contradict one another—and to be honest, you’re not sure what the […]
Insurance companies do not care about your life or your problems, but they do care about your money. Insurance businesses want to take in as much profit as they can by selling premiums, and keep it by paying out as little as possible—even when they are presented with legitimate claims. Here are just a few […]
Someone you love has suddenly passed away. You’re in shock, heartbroken, and don’t know how you’re going to carry on. Then, you get a letter that accuses your family member of intentionally taking his own life. It may seem incredible, but it’s a common insurance company tactic. It’s especially common when victims had a particularly […]
Your elderly relative was diagnosed with a terminal disease. She made one thing clear: she didn’t want to die in a hospital. You did the right thing. She came home, and you made her comfortable. You made sure she was exactly where she wanted to be. Today, more people with terminal illnesses are deciding to […]
You’ll never forget the day you got the phone call. Your father died. He was in a long-term care home, recently recovering from surgery. He was doing better, or so you thought. However, the attendant on the other end assured you that he died of old age. You hung up, dazed, and went through the […]
You don’t want to think about what will happen if your spouse dies unexpectedly. While you cannot prepare for the emotional trauma, you are at least well prepared for the financial difficulties. But what if the unthinkable happens, and you’re not as secure as you thought? If your spouse has died at work, your life […]