What should you do if your life insurance claim has been denied?
The attorneys at Life Insurance Law work to recover full compensation for life insurance beneficiaries in North Carolina. If you need to dispute a life insurance claim denial, contact us today for a free case evaluation.
You can expect the following from your North Carolina 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 North Carolina life insurance lawyer can help you appeal the decision and may still be able to recover the full amount of your claim.
In North Carolina, how am I protected by state insurance laws ?
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 North Carolina has life insurance laws to help protect consumers. Here is a summary of some of these North Carolina 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 58 of the North Carolina General Statutes is the primary regulating force behind the insurance industry within the state of North Carolina, but other legal provisions have also been adopted as consumer protection laws. The North Carolina Department of Insurance 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 North Carolina resident buying a life insurance policy has 10 days to back out of coverage and receive a full refund of any premiums he has paid. If you obtain your policy through the mail, this “free look” period expands to a full 30 days. Some insurers may offer even longer trial periods, at their option.
- Readability. Chapter 58, Article 38 of the General Statutes requires all North Carolina insurance policies to be readable. Not only must the printed text be legible, but also the word choice and construction should be easily understood.
- Protection of personal information. State laws require that insurance companies safeguard your personal information and protect your privacy. Except in very limited circumstance, your insurer cannot release your private information without your consent. You also have the right to ask for all information the insurance company used in underwriting your policy; your insurer may release this information to you or to your physician, at its discretion. 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.
- 30-day payment grace period. This ensures that a North Carolina 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 North Carolina 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 serious penalties against the insurer. Payments are typically made within a month after the provider receives proof of death. If the claim is not settled within 30 days after all documents have been submitted, the account begins to accrue interest.
- Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the North Carolina Life and Health Insurance Guaranty Association. Your policy premiums must be up-to-date, and the insurer must be properly licensed to operate in North Carolina. 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 all benefits per insured individual.
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 North Carolina life insurance attorney.