What should you do if you have a denied life insurance claim?
The attorneys at Life Insurance Law work to recover full compensation for life insurance beneficiaries in Florida. 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 Florida 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 Florida 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 Florida?
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 Florida has life insurance laws to help protect consumers. Here is a summary of some of these Florida 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 37 of the Florida Statutes (Chapters 624-651) is the primary regulating force behind the insurance industry within the state of Florida, but other legal provisions have also been adopted as consumer protection laws. The Florida Office of Insurance Regulation LINK 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 Florida resident buying a life insurance policy has at least 10 days to back out of coverage and receive a full refund of any premiums he has paid. Some insurance companies may grant a longer period, but the law guarantees you will at least ten days to change your mind.
- 30-day payment grace period. This ensures that a Florida life insurance policy cannot be canceled due to a reasonably late payment. The policyholder has 30 days to make the payment, during which time the provider cannot cancel the policy or deny coverage.
- Protection of personal information. State regulations require that insurance companies safeguard your personal information and protect your privacy. Except in very limited circumstance, your insurer cannot release your private medical information without your consent. 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, with interest. Florida laws do not specify a time limit for insurance companies to settle claims. However, the company is required to add interest payments to the total benefit, beginning from the day when the company receives a certified copy of the death certificate. Payments are typically made within a month.
- Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the Florida Life and Health Insurance Guaranty Association. The insurer must be properly licensed to operate in Florida. 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 Florida life insurance attorney.