Your loved one met his or her responsibility to yourself and your family when they purchased life insurance to protect your family in the event of their death.
Life insurance serves as financial protection against the unthinkable - it is a safeguard against the financial losses that are suffered due to a loved one's death. A life insurance plan can make certain that the policyholder's family can continue their lives even in the face of unexpected tragedy with financial support.
But what if the unthinkable does happen and the insurance company is giving you the run around? An insurance company has a right to perform a reasonable investigation of your claim. But what do you do when the investigation is clearly unreasonable and is being used simply as a method of delaying payment? In the meantime, your bills keep coming in but your loved one's earnings are not. What happens as the weeks go by and your claim goes unpaid? What happens if your claim is outright rejected?
An estimated 10 percent of valid insurance claims are unfairly denied - but less than one percent of these policyholders question the decision of the insurance company.
As a former claims adjuster, I understand why these situations come about. Insurance companies are in the business of making money. By delaying claims, insurance companies get to hold on to their money a little longer. Money that is invested somewhere earning them money. As far as insurance companies go, the only thing better than delaying a claim is denying a claim.
In simple terms, when your family bought a life insurance policy your insurance company entered into a contract in which they promised to pay out the life insurance benefits in the event of the policyholder's death in consideration for payment of certain premiums. Your family was responsible and sacrificed to make the insurance premium payments. Don't let your insurance company get away with taking your money but refusing to follow through with their half of the deal.
Case In Point:
A wife was put in a terrible situation when her husband unexpectedly passed away leaving her alone to support their five-year-old son. Shortly after his death, the wife notified the employer and life insurance company about the tragedy, but one and half years later the wife had not yet received one cent from the life insurance company. As a single working mom of a young boy she suffered not only from the death of her husband but from her family's dire financial situation. The insurance company argued in bad faith that no life insurance policy even existed and artfully dodged the wife's inquiries.
The wife called our office and enlisted our help. Shortly after we became involved, we were able to prove that an insurance policy did indeed exist and we persuaded the insurance company to set aside many of the issues that they were claiming existed. Thereafter, the insurance company took the position that although a policy existed, the face amount of the policy was only $10,000.00. We proved that the husband had elected to purchase a supplemental policy for an additional $100,000.00. The case was resolved for the full $110,000.00 in benefits. A guardianship was established for the minor that will pay for the son's education.
You can reach Miami Life Insurance Claims Lawyer J.P. Gonzalez-Sirgo by dialing his direct number at (786) 272-5841, calling the main office at (305) 461-1095, or Toll Free at 1 (866) 71-CLAIM or email J.P. directly at [email protected].