The attorneys at Life Insurance Law work to recover full compensation for life insurance beneficiaries in Massachusetts. 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 Massachusetts 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 Massachusetts 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 Massachusetts?
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 Massachusetts has life insurance laws to help protect consumers. Here is a summary of some of these Massachusetts life insurance laws. Of course, you should definitely contact us to discuss your case specifically and see how state laws impact your particular situation.
The state Office of Consumer Affairs and Business Regulation includes a Division of Insurance, which is responsible for oversight of the insurance industry in Massachusetts. Chapter 175 (Title XXII) of the Laws of Massachusetts is the primary regulating force behind the insurance industry of Massachusetts, but other legal provisions have also been adopted as consumer protection laws. The most important rules that may apply in your case are:
- The “free look” period. Any Massachusetts 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. No penalty can be charged for backing out of the contract during the free look period.
- Readability. Section 2B of the Massachusetts insurance laws requires all insurance policies to be readable. Not only must the printed text be legible, but also the word choice and construction should be easily understood.
- 30-day payment grace period. This ensures that a Massachusetts 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.
- Timely payment on claims. When a life insurance claim is filed, a Massachusetts insurance provider is required to pay the amount to the beneficiary with no unreasonable delay. If it takes longer than 30 days, the insurance company may be required to pay accrued interest on the amount.
- Reinstated coverage. If you allow your life insurance policy to lapse, most companies will allow you to reinstate it at same rate if you pay the missed premiums. However, the company may require you to be examined by a physician before your coverage is restored.
- Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the Massachusetts Life and Health Insurance Guaranty Association. 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. This promise applies only if your insurance company is properly licensed to operate in Massachusetts, and only if you are current in your payments.
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 Massachusetts life insurance attorney.