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 Nevada. 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 Nevada. You can expect the following from your Nevada 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 Nevada life insurance lawyer can help you appeal the decision and may still be able to recover the full amount of your claim.
How do state insurance laws in Nevada protect you?
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 Nevada has life insurance laws to help protect consumers. Here is a summary of some of these Nevada 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 57 of the Nevada Revised Statutes is the primary regulating force behind the insurance industry within the state of Nevada, but other legal provisions have also been adopted as consumer protection laws. The Nevada Division of Insurance (part of the Department of Business and Industry) 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 Nevada 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. No penalty can be charged for backing out of the contract during the free look period.
- Protection of personal information. State laws require that insurance companies safeguard your personal information and protect your privacy. Your Nevada insurance company will, upon request, provide you with a list of all sources of personal information about you. Your insurer cannot release your private medical information without your consent and signature. 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.
- No explicit mandate on timely payment of claims. Nevada law allows each company to set forth its own procedure for making a death benefit claim. There is no statewide provision requiring a settlement be made within a specific time period. Your life insurance policy should spell out the claims procedure in detail.
- Your benefits are guaranteed even if the insurer goes out of business. Life insurance policies that are current are backed by the Nevada Life and Health Insurance Guaranty Association. You must be up-to-date on paying your premiums, and the insurer must be properly licensed to operate in Nevada. 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, 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 Nevada life insurance attorney.