Posted on

Small Life Insurance Policies are Huge to a Grieving Family

Small Life Insurance Policies Are Huge To A Grieving Family

Small life insurance policies are huge to a grieving family after losing a loved one, and we are here to HELP you get your claim paid. A family is fortunate to have had a loved one who planned, saved and paid the monthly installments for a life insurance policy – people who do that care about their families, whether their life insurance policies are $15,000, or $1,500,000.

It isn’t just the amount at stake, it is that a father or mother, sister or brother or other, took the time to show the concern, and get the life insurance policy – to ensure that you, their loved one, would receive a financial payoff when they die.

Life Insurance Companies Frequently Sell Policies With Benefits Under $50,000.

These life insurance companies do an important part of their business with people who are encouraged to buy these “smaller” policies, even if it is all the people can afford.

While some other lawyers might tell you there is no way they can help on a $15,000 policy, you won’t ever hear that from us. We are here to help; you have suffered the loss of life, the policy must be paid – REGARDLESS of the amount.

In many ways, a “small” life insurance policy may mean much more to a family struggling with funeral expenses, medical expenses, and the loss of an earner, than some of the very large policies involved with estate planning.
These benefits matter to our clients. We work hard to obtain those benefits. All we ask is that you give us the information you know, that you are truthful with us, and we will do whatever we can to help. Instead of worrying about your life insurance problems, and whatever the life insurance company is saying to you – instead of just paying the policy benefits like they should – get in touch with us, and we can help – we know first hand that small life insurance policies are huge to a grieving family.
We have decades of experience negotiating with and litigating against Life Insurance Companies – and we have worked for them too – and know the tricks they will play to avoid payment of claims. Contact us by email, phone, chat, or web form, and we will follow up with you as soon as we can. We want to help with these worries, and make things right.

The Life Insurance Company has Many “tricks” to Avoid Paying Your Claim.

Life Insurance “small” policies are not “small” in any meaning of the word!
We have handled many situations with life insurance companies that write life insurance policies that are $10,000, $15,000, $25,000, or $30,000 in benefits. These life insurance companies include Globe Life Insurance, New York Life Insurance, New York Life Insurance AARP Life Insurance, MetLife Insurance, Prudential Life Insurance, American National Life Insurance Company, National Life Group, Life Insurance Company of the Southwest, Royal Neighbors, Symetra Life Insurance Company, and many others.
If you have a problem getting your life insurance claim paid, or your policy has been rescinded or denied, has beneficiary disputes or other issues, you need to contact Life Insurance Lawyer NOW.com or life insurance justice.com NOW. Use the form on our site, or email us, or call (888) 997-4070 or (818) 937-0937 to speak directly to an experienced life insurance lawyer. We are the best life insurance lawyers around, and we are real lawyers, not a lawyer referral service or “middleman” – we are here for you NOW.

Posted on

Farmers Life Insurance Company

State Farm Life Insurance Company

State Farm Life Insurance Company uses the name State Farm Life, and makes claims that it is the country’s #1 insurer of individual life insurance policies.

State Farm life sells through agents, who receive commission compensation and other compensation for selling the State Farm Life insurance policies. State Farm Life Insurance Company is based in Bloomington, Illinois and prefers Federal Court throughout the country for the many lawsuits that have been filed against State Farm.

The types of insurance policies include term life, whole life, universal life, and variable universal life insurance policies. Each of these particular types of policies has a world of complexity and fine print.

State Farm also describes term life insurance as “affordable protection”, and talks about their different types of life insurance as:

“Term life insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and your family is protected for that ‘term’…..Help provide for a family’s loss of income; Cover short-term debts and needs; Provide additional insurance protection during the child-raising years, Provide longer term protection to help your family pay off a mortgage or to help pay for a college education.”

“Select Term Life Insurance” where the customer can “Select 10, 20, or 30 years of coverage and a guaranteed benefit. Coverage starts at $100,000, and the affordable premiums are level for the initial policy term. Once past the level premium period, premiums will increase annually. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits.”

State Farm describes “Whole Life Insurance” policies as:

”Select 10, 20, or 30 years of coverage and a guaranteed benefit. Coverage starts at $100,000, and the affordable premiums are level for the initial policy term. Once past the level premium period, premiums will increase annually. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits.”

State Farm Life Insurance Company describes its “Universal Life Insurance” as a life insurance policy where:
“premiums are paid into your policy’s account value (after a premium expense charge), where it earns interest. Every month, various deductions, such as a charge for insurance protection, are then made from the account value. You have the ability to take loans or make withdrawals from the account value for your personal needs. Loans accrue interest and unpaid loans plus interest and withdrawals will reduce the death benefit and cash value. The policy continues as long as the cash value is sufficient to cover the various deductions each month…”
State Farm Life Insurance Company used to sell a large number of policies of Variable Universal Life. But in September, 2008, State Farm stopped selling variable universal life. Because State Farm sold so much of the variable universal life insurance policies, and there has been so much discontent with these types of unpredictable policies, many of the policies are still in force, and insured customers may have questions.
Here’s a case where verdict was made against State Farm for bad faith in the amount of $2.35 million dollars. The elderly widow was insured under a State Farm policy with $25,000 limits and recovered the huge amount for her insurance claim regarding her husband’s wrongful death from an automobile accident.

The Plaintiff’s lawyer initially demanded that State Farm tender the policy limit of $25,000, which was denied by State Farm, who insisted on the need to see additional notarized affidavits before it could confirm or deny any coverage. However, Georgia law states that if an insurer responds to an insured’s demand for policy limits by making a counteroffer, the counteroffer will constitute a rejection, subjecting the insurer to a claim for bad-faith conduct and liability, far in excess of the insured’s policy limits.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied?

Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim? Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment. Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

We can help. Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen. We are highly experienced lawyers, not paralegals, and we know this area. We get right to it with you and the insurance company, and get many claims paid right away. If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family. We respect you, deal directly with you, and understand not only the law and facts, but what you are going through. We are here to help. Contact us as soon as possible, to get your claim paid faster.

Posted on

State Farm Life Insurance Company

State Farm Life Insurance Company uses the name State Farm Life, and makes claims that it is the country’s #1 insurer of individual life insurance policies.

State Farm life sells through agents, who receive commission compensation and other compensation for selling the State Farm Life insurance policies.  State Farm Life Insurance Company is based in Bloomington, Illinois and prefers Federal Court throughout the country for the many lawsuits that have been filed against State Farm.

The types of insurance policies include term life, whole life, universal life, and variable universal life insurance policies.  Each of these particular types of policies has a world of complexity and fine print.

State Farm also describes term life insurance as “affordable protection”, and talks about their different types of life insurance as:

“Term life insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and your family is protected for that ‘term’…..Help provide for a family’s loss of income; Cover short-term debts and needs; Provide additional insurance protection during the child-raising years, Provide longer term protection to help your family pay off a mortgage or to help pay for a college education.” 

“Select Term Life Insurance” where the customer can “Select 10, 20, or 30 years of coverage and a guaranteed benefit. Coverage starts at $100,000, and the affordable premiums are level for the initial policy term. Once past the level premium period, premiums will increase annually. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits.”

State Farm  describes “Whole Life Insurance” policies as:

”Select 10, 20, or 30 years of coverage and a guaranteed benefit. Coverage starts at $100,000, and the affordable premiums are level for the initial policy term. Once past the level premium period, premiums will increase annually. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits.”

State Farm Life Insurance Company describes its “Universal Life Insurance” as a life insurance policy where:

“premiums are paid into your policy’s account value (after a premium expense charge), where it earns interest. Every month, various deductions, such as a charge for insurance protection, are then made from the account value. You have the ability to take loans or make withdrawals from the account value for your personal needs. Loans accrue interest and unpaid loans plus interest and withdrawals will reduce the death benefit and cash value. The policy continues as long as the cash value is sufficient to cover the various deductions each month…”

State Farm Life Insurance Company used to sell a large number of policies of Variable Universal Life.  But in September, 2008, State Farm stopped selling variable universal life.  Because State Farm sold so much of the variable universal life insurance policies, and there has been so much discontent with these types of unpredictable policies, many of the policies are still in force, and insured customers may have questions.

Here’s a case where verdict was made against State Farm for bad faith in the amount of $2.35 million dollars. The elderly widow was insured under a State Farm policy with $25,000 limits and recovered the huge amount for her insurance claim regarding her husband’s wrongful death from an automobile accident.

The Plaintiff’s lawyer initially demanded that State Farm tender the policy limit of $25,000, which was denied by State Farm, who insisted on the need to see additional notarized affidavits before it could confirm or deny any coverage.  However, Georgia law states that if an insurer responds to an insured’s demand for policy limits by making a counteroffer, the counteroffer will constitute a rejection, subjecting the insurer to a claim for bad-faith conduct and liability, far in excess of the insured’s policy limits.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied? 

Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

We can help.  Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen.  We are highly experienced lawyers, not paralegals, and we know this area.  We get right to it with you and the insurance company, and get many claims paid right away.  If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family.  We respect you, deal directly with you, and understand not only the law and facts, but what you are going through.  We are here to help.  Contact us as soon as possible, to get your claim paid faster.

Posted on

Facts About Your Life Insurance Legal Rights in California

California has more specific laws and regulations to protect insurance policyholders than any other state in the country, and these laws tell insurers what they must, can and cannot do – these are the important Facts About Your Life Insurance Legal Rights in California. These are laws made by judges and legislators in Sacramento called “case laws” and “statutes” or “code provisions”.

There are many laws that tell companies and their representatives how they must behave when insured property is damaged and a claim is filed. Many people, including claim adjusters, are not aware of these laws. Some companies and adjusters routinely break these laws when handling claims – knowingly and unknowingly. This is particularly true when it comes to California’s “Fair Claim Settlement Practices” Regulations. Many claim adjusters and even company executives have no idea that these regulations exist – let alone what they say.

Have You Dealt with a Life Insurance Company Claims Adjuster Previously?

Do you know if they are breaking the law? WE DO.

If you arm yourself with some basic knowledge about the laws that protect you, you can speed up your settlement and improve your odds of getting paid what you’re owed. But you’re still best off by hiring experts like us. This is not a hobby for us – we have done this for decades, and even on the other side of the table, working for the insurer.

The most important law to remember is that your insurance company has the legal duty to investigate, process, and pay your claim fully, promptly and in good faith and deal with you fairly at all times.

Do You Know Your Life Insurance Legal Rights in California?

As an insured in California, you are legally entitled to be treated in “good faith” by your insurance company and its adjusters at all times.   The insurance company must look for coverage and try to pay your claim.   The insurance company communicated fully and honestly with you about the policy it sold you, and about rights and duties relating to your claim.  Also, you are legally obligated to be honest and to cooperate with reasonable requests for information relevant to your claim.  California Insurance Code section 790.03 is an important source of these requirements, as is California Insurance Code section 2071.

All adjusters and  representatives of your insurance company are legally required to tell you the truth – they cannot lie.   This includes in-person conversations and all communication by phone, letters, emails and all advertising and printed materials.  This means they must be honest about what they sell you, what you’ve paid for and what you’re entitled to if you file a claim. These are all elements of your Life Insurance Legal Rights in California.

An insurer “shall not cause to be issued, circulated or used, any statement that is known, or should be known, to be a misrepresentation” of the benefits or privileges of the policy or future dividends payable under the policy. [California Insurance Code section 780]  No insurer shall misrepresent to a “claimant pertinent facts or insurance policy provisions relating to any coverages at issue”. [California Insurance Code section 790.03]

  • No insurer shall discriminate in its claim settlement practices on the basis of a claimant’s age, race, gender, income, religion, language, sexual orientation, ancestry, national origin, physical disability or upon the territory of the property or person insured.  [California Code of Insurance Regulations section 2695.7]
  • You are entitled to a “good faith” settlement.  Every insurer must attempt “in good faith to effectuate prompt, fair and equitable settlements of claims in which liability has become reasonably clear”.
  • An insurer cannot make an “unreasonably low” offer, that is, attempting to settle a claim “for less than the amount to which a reasonable person would have believed he or she was entitled by reference to written or printed advertising material accompanying or made part of the application”.  [California Insurance Code section 790.02]

We Will Help You with Your Life Insurance Policy Beneficiary Claim.

Your insurer is under the direction of their attorneys – who are not on your side. WE are.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied?  Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission and Application Misrepresentation are both favored strategies of the life insurance company, especially if the policy was issued less than two years before the death.

We can help.  Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen.  We are highly experienced lawyers, not paralegals, and we know this area.  We get right to it with you and the insurance company, and get many claims paid right away.  If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family.  We respect you, deal directly with you, and understand not only the law and facts, but what you are going through.  We are here to help.  Contact us as soon as possible, to get your claim paid faster.

Posted on

Life Insurance Companies And Big Tax Breaks

Life Insurance Companies And Big Tax Breaks

Did you know that Insurers Play State Insurance Regulators? Here’s what you need to know about Life Insurance Companies and Big Tax Breaks.

When you think of a life insurance company, you expect it to be conservative, even old-fashioned, but definitely doing nothing too edgy.  The most important thing for a life insurance company should be to have sufficient money on hand (called reserves in the insurance world) to pay even an unusually high year of policy benefit payouts.  The security of a life insurance policy comes in large part from expecting the company to be solid, and there to help, if, unfortunately, your loved one passes away.  The life insurance companies know this; that is why most of their advertising is about their long time in business, how they care about you and your family, and how they will be there when you need them.  They spend more than a billion dollars annually just on domestic advertising (including all forms) to get you to believe this.

But the reality is that the insurance companies are playing the state regulators off against each other, trying to see which will permit the companies to retain really low reserves?  Even more, when one of these companies releases their reserves, going from a high to low reserve, that money is usually taxed – which is fair.

The company is moving money from being held by the company, to being paid by the company, to its executives and stockholders.  For an example of Life Insurance Companies and Big Tax Breaks, Transamerica life insurance used this technique to move $1.8 billion off its books recently.

The life insurance company’s game plan is simple: move big money out of the safe reserves, into the company’s general revenues, available for payment of executive bonuses and increased salaries.  

Usually, the money would be counted as income for the company when it moves out of reserves, which is to be paid to executives – but,  state insurance regulators report the reserve levels as unchanged.  Federal law states that reductions in reserves are treated as taxable income,  but because the complex plan on paper appears that the reserves have remained the same, the insurers do not pay any federal tax.  The maneuvers are sometimes known as “shadow insurance.”  The financial regulator in New York, Benjamin Lawsky, has been calling some these transactions “financial alchemy” because they seem to make money appear out of nowhere.

These transactions are modeled after reinsurance, a business in which an insurer pays another company to take over some of the obligations to pay claims.  Reinsurance is widely used and is considered beneficial, because it allows insurers to spread their risks evenly and remain stable as they grow.  The obligations fall off the original insurer’s books because the reinsurer has picked them up.

In the “shadow version” life insurance companies created wholly owned subsidiaries, sometimes called captives, which they use as a reinsurance company, to move their obligation to the subsidiary.  So, then the parent insurance company removes the obligations off their books, even though the “reinsurance companies” here are really just part of the insurance company.  Those “shadow companies” are not really separate companies.

Iowa, at this time, appears to have the state of the art statutes and regulations, which permit this shadow insurance.  This has helped encourage more life insurance companies to move to Iowa – and, as an added benefit, reserves are tax-deductible as an ordinary business expense. So, thanks to the regulations being influenced by the life insurance companies, they get to keep their large tax-deduction, avoid paying taxes on the money moved out of reserves, and don’t have to increase their reserves.  It really does make a difference who you know.

While this is complex, and your concern about your life insurance policy may be much different, this shows an important lesson: The insurance companies will use complex regulations to try to give themselves every advantage, even when their action makes no independent business sense.

Because a life insurance company can be only concerned with their own profits, you need an experienced life insurance lawyer now to help get your policy paid.

Posted on

Mutual Of Omaha Life Insurance Company

Mutual Of Omaha Life Insurance Company

United Mutual of Omaha Life Insurance Company has a marketing emphasis on smaller, lower premium policies.

Those policies are described by United of Omaha Life Insurance Company as:

“A Whole Life Guaranteed policy from United of Omaha Life Insurance Company (United of Omaha) helps ensure that your family may be supported in the future.

An insurance policy from United Mutual of Omaha Life Insurance Company helps provide financial protection to those who depend on your assistance every day. Benefit payouts can help fund costs such as daily expenses, unforseen accidents, and education funds.

A Whole Life Guaranteed insurance policy offers: Up to $25,000 in coverage, Guaranteed coverage for those aged 45-85, No medical exam or health questions, No decrease in benefits or increase in premiums, Builds cash value to borrow against, A Whole Life Guaranteed policy also includes a graded death benefit. If death occurs from natural causes (not accidental) during the policy’s first two years, the beneficiary will receive all premiums you paid plus 20 percent. Once the two year period ends, the beneficiary will receive the policy’s full benefit.”

However, some parts of what Mutual of Omaha says in that presentation are not exactly right.  They do not have policies that are without medical questions.  Always, the medical history portion of the application is what Mutual of Omaha will rely upon for rescission, if there is a claim within the first two years of the application.  They will not ever simply give up that right.

Are You A Beneficiary In A Mutual Of Omaha Life Insurance Company Claim?

This is a new, more aggressive sales move of life insurance company – as no longer does Mutual of Omaha even want to just have the rescission laws on its side.  Under those laws, in California, the insurance company that seeks to rescind a policy needs to affirmatively bear the burden of finding material evidence to justify its actions.  Instead of following that law, Mutual of Omaha seeks to eliminate the insurance in the first two years of the policy. By writing a life insurance policy that does not provide any life insurance coverage in the first two years, the policy is, in our opinion, inherently misleading, and not an insurance policy at all.

Mutual of Omaha Sells Life Insurance, Then Claims it isn’t Life Insurance for the First Two Years.

Even Wikipedia features a section of the numerous verdicts against Mutual of Omaha for bad faith, unfair dealing, breach of contract, and claims denials.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied?  Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

We can help.  Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen.  We are highly experienced lawyers, not paralegals, and we know this area.  We get right to it with you and the insurance company, and get many claims paid right away.  If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family.  We respect you, deal directly with you, and understand not only the law and facts, but what you are going through.  We are here to help.  Contact us as soon as possible, to get your claim paid faster.

Posted on

Life Insurance Company Communications

Life Insurance Company Communications

The Importance of Life Insurance Company Communications

Are you getting Prompt, Honest & Complete Communications from your Life Insurance Company? You are entitled to such Life Insurance Company Communications.  The company (and all its representatives) must respond to your communications within “15 calendar days” with “a complete response based on the facts then known.”  Any question you ask, and any request you make must be responded to by the insurer within 15 calendar days.

You Must Make A Written Record Of All Your Life Insurance Company Communications

You must get in the habit of sending your insurer letters or emails, and create a written record of who said exactly what and when.  That doesn’t mean you should stop talking to your adjuster.  If you request copies of your current policy and policy history, including previous policies, policy upgrades, notices of changes, etc.  (something we highly recommend that you request in writing), your insurer must respond to your request within 15 calendar days.  [California Code of Regulations section 2695]

Your Insurer Must Tell You About All Deadlines That Apply To Your Claim.

Including the fact that there is a deadline for filing a lawsuit against them.  [Insurance Code 2071 and California Code of Regulations 2695.7]

Once that deadline passes, you lose the right to sue them, even if they have broken the law and cheated you.  That deadline is called a “statute of limitations” and its purpose is to provide finality and keep things moving forward.  There is one deadline for suing an insurance agent and a different one for suing an insurance company, but to find out exactly what yours is – you’ll need to consult with an attorney before the one-year anniversary of your loss.  Why? Because in the state of California it’s tricky.  There’s something called “tolling”.  Your deadline is “tolled” (postponed) as long as your claim is still being processed but once they deny it – the clock starts again.  An insurer cannot mislead you about this but it’s a common source of confusion.  [California Insurance Code section 790.03]

Unless specified in your policy, you do not have to use the exact forms provided by your insurer to do your contents list.  A neat (hopefully, typed) list with replacement prices should work – and an insurer cannot ask for unreasonable “proofs of loss” such as secondary proofs.  For example, if you provide photographs or video of items in your home, you cannot then be compelled to provide receipts as well if they contain essentially the same information.  [California  Insurance Code section 790.03]

You have a right to receive a copy of every claim-related document in your file.  

An insurer shall “notify every claimant that they may obtain, upon request, copies of claim-related documents…” including construction estimates, photographs and the documentation backing up their estimates and “all other valuation”.  This shows how your contents and construction estimates may have been depreciated.  [See “Requirements in case loss occurs” in California Insurance Code section  2071.]  The only thing you are not entitled to receive is attorney-client privileged communications and their attorney work. This means that valuations, photographs, measurements, adjustor notes and reports, contents depreciation schedules, construction depreciation schedules, materials estimates, etc. are all part of your claims process, and you are entitled to receive complete copies of these so you can review them.

Keep in mind, the insurer has a responsibility to gather as much information as needed to fulfill their end of the claims process and you have a responsibility to cooperate in their investigation.  You do not have a responsibility to cooperate with unreasonable requests for information or harassing tactics.   However, you are obligated to answer claim-related questions about your loss.  Instead of doing a telephone interview, you may ask for written questions from the insurer’s investigator to be sent to you and to answer them in writing.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied?  Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, claiming Application Misrepresentation, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

Posted on

The Many Forms Of Life Insurance Bad Faith

The Many Forms Of Life Insurance Bad Faith

These are Some of The Many Forms of Life Insurance Bad Faith. Did you get a letter from the insurance company saying they don’t owe on the policy?  Or that they want to rescind the policy?  Or that they keep “investigating” and asking for documents over and over?  Your gut feeling that the company is doing anything to avoid paying isn’t a mistake.

The Life Insurance Company’s Goal is to Find a Way to Not Pay Your Claim.

Life insurance policies are very expensive for the companies, since few life insurance policies actually ever cover a person who passes away – most times, people don’t die during the policy period – the policy just provides peace of mind.

So when the rare and sad event happens, the life insurance company is called on to pay far more than it took in, and they don’t want to affect their profits. We can help. Put an experienced lawyer on your side.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied?  Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission and Application Misrepresentation are favored strategies of the life insurance company, especially if the policy was issued less than two years before the death.

We can help.  Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen.  We are highly experienced lawyers, not paralegals, and we know this area.  We get right to it with you and the insurance company, and get many claims paid right away.  If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family.  We respect you, deal directly with you, and understand not only the law and facts, but what you are going through.  We are here to help.  Contact us as soon as possible, to get your claim paid faster.

Posted on

The Importance Of Life Insurance Company Communications

The Importance Of Life Insurance Company Communications

The Importance of Life Insurance Company Communications – Are you getting Timely Communications From Your Life Insurance Company? You are entitled to prompt, timely communications from your life insurance company. The company (and all its representatives) must respond to your communications within “15 calendar days” with “a complete response based on the facts then known.” Any question you ask, and any request you make must be responded to by the insurer within 15 calendar days.

You must get in the habit of sending your insurer letters or emails, so there is a record of who said what and when. That doesn’t mean you should stop talking to your adjuster. If you request copies of your current policy and policy history, including previous policies, policy upgrades, notices of changes, etc. (something highly recommends you request in writing), your insurer must respond to your request within 15 calendar days. [California Code of Regulations section 2695]

Your insurer must tell you about all deadlines that apply to your claim and the fact that there is a deadline for filing a lawsuit against them. [Insurance Code 2071 and California Code of Regulations 2695.7] Once that deadline passes you lose the right to sue them, even if they have broken the law and cheated you. That deadline is called a “statute of limitations” and its purpose is to provide finality and keep things moving forward. There is one deadline for suing an insurance agent and a different one for suing an insurance company, but to find out exactly what yours is – you’ll need to consult with an attorney before the one-year anniversary of your loss. Why? Because in the state of California it’s tricky. There’s something called “tolling”. Your deadline is “tolled” (postponed) as long as your claim is still being processed but once they deny it – the clock starts again. An insurer cannot mislead you about this but it’s a common source of confusion. [California Insurance Code section 790.03]

Unless specified in your policy, you do not have to use the exact forms provided by your insurer to do your contents list. A neat (hopefully, typed) list with replacement prices should work. An insurer cannot ask for unreasonable “proofs of loss” such as secondary proofs. For example, if you provide photographs or video of items in your home, you cannot then be compelled to provide receipts as well if they contain essentially the same information. [California Insurance Code section 790.03]

Another aspect of Life Insurance Company Communications – You have a right to receive a copy of every claim-related document in your file. An insurer shall “notify every claimant that they may obtain, upon request, copies of claim-related documents…” including construction estimates, photographs and the documentation backing up their estimates and “all other valuation”. This means how your contents and construction estimates may have been depreciated. [See “Requirements in case loss occurs” in California Insurance Code section 2071.] The only thing you are not entitled to receive is attorney-client privileged communications and their attorney work. This means valuations, photographs, measurements, adjustor notes and reports, contents depreciation schedules, construction depreciation schedules, materials estimates, etc. are all part of your claims process, and you are entitled to receive complete copies of these so you can review them.

Keep in mind, the insurer has a responsibility to gather as much information as needed to fulfill their end of the claims process and you have a responsibility to cooperate in their investigation. You do not have a responsibility to cooperate with unreasonable requests for information or harassing tactics. However, you are obligated to answer claim-related questions about your loss. Instead of doing a telephone interview, you may ask for written questions from the insurer’s investigator to be sent to you and to answer them in writing.

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied? Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim? Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment. Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

We can help. Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen. We are highly experienced lawyers, not paralegals, and we know this area. We get right to it with you and the insurance company, and get many claims paid right away. If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family. We respect you, deal directly with you, and understand not only the law and facts, but what you are going through. We are here to help. Contact us as soon as possible, to get your claim paid faster.

Posted on

Transamerica Life Insurance Company

Transamerica Life Insurance Company

Transamerica Life Insurance Company, or The Transamerica Corporation is an American holding company for various life insurance companies and investment firms doing business primarily in the United States, offering life and supplemental health insurance, investments, and retirement services.

Are You A Beneficiary In A Transamerica Life Insurance Company Claim?

Transamerica,  “sells the full line of life insurance policies, including additional policies that are specifically for final expenses, including medical bills and burial, and long term care policies.  Transamerica sells term life insurance policies with benefits as low as $25,000 and variable universal life insurance with benefits of $100,000 per year.  For the whole life insurance policies, which have an investment tool aspect, there is no limit to the amount of coverage that can be purchased.  Final expense life policies are limited to $50,000 and say “no medical exam” but there are health underwriting questions involved.  It really is something that depends on your specific facts, and we are here to help.”

However, just have a look at this bad faith and breach of contract case – Transamerica pays $195 million to settle suit over Universal Life Insurance.

Also: Carmen Clemons v. Transamerica Premier Life Insurance Company, San Bernardino Superior Court Case No. CIVDS1702068 (filed February 6, 2017)
In 2011 Defendant Transamerica issued a life insurance policy to plaintiff insuring the life of her husband. The insured failed to make the required premium payment in 2013 and the policy was cancelled on December 7, 2013. The insured passed away on March 20, 2015. Thereafter, plaintiff submitted a claim for death benefits. Defendant Transamerica conducted a review of its 2013 cancellation of the policy and denied plaintiff’s claim for benefits. Plaintiff contended that Defendant Transamerica did not abide by Insurance Code Sections 10113.71 and 10113.72 when it initially lapsed the policy, making the lapse void. 

Have you suffered the unexpected loss of a loved one, only to have a claim for life insurance benefits delayed, or denied? 

Do you get the feeling that the life insurance company is doing everything it can to avoid paying the claim?  Has the life insurance company sent you a letter stating that they are rescinding the policy, making a rescission, or just sending back the premiums paid? Especially if your loved one had the policy for less than two years before passing away, the life insurance company can become very aggressive at seeking to avoid the policy payment.  Rescission is a favored strategy of the life insurance company, if the policy was issued less than two years before the death.

We can help.  Call LifeInsuranceLawyerNOW.com at (888) 997-4070, or (818) 937-0937, or send an email to us in the form on the side of the screen.  We are highly experienced lawyers, not paralegals, and we know this area.  We get right to it with you and the insurance company, and get many claims paid right away.  If court is necessary, we are regular Federal litigators and will push the life insurance company hard for the well being of you and your family.  We respect you, deal directly with you, and understand not only the law and facts, but what you are going through.  We are here to help.  Contact us as soon as possible, to get your claim paid faster.