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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 Wisconsin. If your life insurance claim has been denied or delayed, contact us today for a free case evaluation.

Our life insurance lawyers live and work in Wisconsin. You can expect the following from your Wisconsin 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 Wisconsin 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 Wisconsin?

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 Wisconsin has life insurance laws to help protect consumers. Here is a summary of some of these Wisconsin 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 Wisconsin Statutes and Annotations, Titles 600 through 655, form the primary regulating force behind the insurance industry within the state of Wisconsin, but other legal provisions have also been adopted as consumer protection laws. The Wisconsin Office of the Commissioner 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 Wisconsin resident replacing a life insurance policy with a new one has 20 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. In addition, most Wisconsin insurance companies will give customers a reasonable period — typically 10 days — to change their minds after buying any life insurance policy, not just a replacement one. Check with your insurance provider or examine your policy for the option your insurer offers. If you cancel within this “free look” period, you are entitled to receive a full refund of any premiums you have paid. It’s important to remember that, even when insurance companies are not required by state law to offer this option, those companies which do offer a trial period must apply it fairly and consistently to all similar customers.
  • Protection of personal information. State laws require that insurance companies safeguard your personal information and protect your privacy. 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. Insurers in Wisconsin are allowed to share customer information, but you must receive prior notice of what personal information will be shared.
  • Timely payment on claims. When a life insurance claim is filed, a Wisconsin 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 takes longer than 30 days to settle, the insurance company is required to pay accrued interest on the proceeds.
  • Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the Wisconsin Insurance Security Fund. You must be up-to-date on paying your premiums, and the insurer must be properly licensed to operate in Wisconsin. In the event that your life insurance company becomes insolvent, we can work with the Security Fund to compensate your policy. This guarantee is limited to $300,000 maximum per individual, even if the deceased person was insured for a larger amount or covered under multiple policies.

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 Wisconsin life insurance attorney.