Contestable Death Claim Pays $12 Million.
It took the life insurance company 3 years to pay the claim but perseverance by The Center for Life Insurance Disputes, and the family’s patience, finally paid off. The Center was brought in to effect a $12 million life insurance claim after the family had been unsuccessful in collecting the claim for over 2 years. The family followed the standard procedure of submitting their claim to the insurer (without professional representation) expecting the claim to be quickly processed. The insurer did an interview with the next of kin, got the HIPPA form signed and then stalled the claim for no apparent reason.
The family pursued the claim through a life insurance lawsuit, but were not satisfied with the attorney’s fees and delays. Insurance companies are rarely affected by legal threats. What insurers do fear is paying a life insurance claim that should not have been paid. In this case the insurer was being especially careful because of the size of the claim. Because the policy was still in the contestable period the insurer was entitled to do a complete investigation. However, with no movement by the insurer what-so-ever, it was not clear if the investigation would ever conclude without intervention.
The Center identified the issues a claim examiner would find relevant, looked at what steps had been done, and opened our own investigation. We obtained information that the insurer needed but did not know was available. We worked with their legal department on a daily basis for 6 months. Finally, the insurer agreed with our determination and was satisfied that they would be correct in paying the claim.
Pursuing a claim through a life insurance lawsuit is one option. There are many attorneys and much information about lawsuits which promote such action, ex. Using a Life Insurance Lawsuit. What is needed however, instead of an adversarial position brought about by litigation, is the engagement of claim professionals representing the beneficiary and his interests. Instead of fighting with an insurer, as some legal referral services recommend ex. This is not a Real Law Firm, substantially better results can be accomplished by working with the insurer. As was the outcome of this $12 million life insurance claim payment.
Most of the claims we work on get paid much faster than this claim, but it reconfirms our advice to anyone with a life insurance death claim — don’t file your claim without representation.
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