Life Insurance Claims

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It is more common than you think for a beneficiary to get a denial letter after filing a life insurance claim. That's at least according to a new press release from Pennsylvania life insurance law firm, Lassen Law Firm, that explains that life insurance companies regularly deny claims - and for a lot of simple reasons.

Why Your Life Insurance Claim Could be Denied

We often think that once we purchase a life insurance policy, all of our family's problems are solved. They won't have to worry about money once we're gone and we can rest easy knowing everything will be taken care of after obtaining life coverage.

However, this is not necessarily true. According to Lassen Law Firm, life insurance companies can deny claims for something as simple as "having a misspelling in the name of the deceased." The idea for the company is to hold on to its money, says the law firm. In order to do this, it often comes up with ways to prove there was a misrepresentation on the original policy - or even that medical history is inaccurate.

What to Do If You're Denied

If you've found that your company has denied you coverage, the law firm suggests that you contact a lawyer you trust to help you investigate whether or not the claim was legitimately denied. There's a chance that the company could be using terminology you don't understand to confuse or intimidate you into avoiding any further investigation into the denial. Don't let this stop you from pursing what's rightfully yours.

But the best way to ensure the process moves smoothly is to have the policyholder check over the policy thoroughly to make sure that all information is perfectly accurate shortly after checking life insurance rates and obtaining coverage. This way, the beneficiary won't have any problems filing the claim later down the line.

Having to file a life insurance claim at any point is a tough job, but it's good to be prepared for when that day comes. What type of preparatory measures can be taken to ensure that you're ready to handle filing the claim? Let's take a look at a few ideas to better know the processes involved.

Read Through the Entire Life Insurance Policy

One way to better prepare to file an insurance claim is to read through the life insurance policy to make sure that you understand exactly what you are to receive. And if you're not the only beneficiary, it's good to know what everyone is entitled to so that if the policy is lost over the years, you'll be aware of what's in the policy.

Know Where the Insureds Documents Are Kept

While the person who has named you a beneficiary is still alive and well, it's good to find out where they keep important documents so that when the time comes to file an insurance claim, you won't slow the claims process down by having to first locate the information you need.

Obtain a Copy of the Death Certificate

If your loved one has passed away, in addition to knowing where the life insurance documentation is, it's important to make sure that you obtain a secure, certified copy of the death certificate so that you will have it ready for proof that the insured died. The company your loved one worked with may not require this documentation, but it's good to have it just in case.

It's recommended to be as prepared as possible before having to file a life insurance claim. This way, when it's time to receive the proceeds from the life insurance policy, you won't run into any stumbling blocks.

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