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When you purchase a life insurance policy and pay your premiums as agreed, you have the right to expect that your designated loved ones will receive the benefits of the policy after your death. In many cases, life insurance payouts proceed as agreed under the policy. However, some life insurance companies have been known to engage in questionable practices that leave beneficiaries without the benefits they deserve. If you have concerns about death benefits under a life insurance policy, do not hesitate to consult with an experienced Miami life insurance attorney at Charlip Law Group, L.C. today.
In a recent segment on 60 Minutes on CBS you may have first learned that audits of leading life insurance companies have uncovered a systematic, industry-wide practice of not paying significant numbers of beneficiaries. (http://www.cbsnews.com/news/60-minutes-life-insurance-investigation-lesley-stahl/)
Following a loved one’s death, you are likely grieving and focusing on all of the necessary tasks needed to wrap up their affairs. In many cases, a life insurance policy is critical to covering medical bills, paying for funeral and burial expenses, settling debts, or even providing financial support in the absence of the deceased person’s income. Many people take out policies for exactly this reason.
Unfortunately, in a surprising number of cases, beneficiaries may have little to no information about certain life insurance policies, especially if they have never seen the paperwork for the policy. In these cases, when the life insurance company hears of a death, the company should notify the beneficiaries so they can properly make a claim. However, in recent years, many cases have arisen in which life insurance companies knew policyholders had died and neglected to provide family members with any information and refused to acknowledge the existence of a policy. Because no claims were made, no benefits were paid.
In such a situation, insurance companies may argue that, under the terms of a policy, the beneficiaries have the responsibility to make a claim in order to receive benefits. However, Florida insurance laws have provisions to protect consumers who may not be aware of a life insurance policy and impose a duty on insurance companies to investigate such claims.
While you may imagine that life insurance companies should respect their policyholders and be sensitive to the rights of grieving family members, ultimately these companies are businesses focused on their bottom line and trying to minimize liability whenever they can. Our insurance attorneys believe that policyholders should be put first and that beneficiaries fully deserve proper death benefits whether they knew of a policy or not.
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At the Charlip Law Group, L.C. in Miami, we understand how helpless you can feel if an insurance company is refusing to give you the benefits that you deserve. If you feel that you were not paid out on a death benefit or if you know someone who may be facing a similar situation please contact us immediately so we can review the policy. We have many options to help you stand up for your rights to a life insurance company so that you receive the payout that you deserve under your loved one’s policy. Our Miami life insurance attorneys have a thorough understanding of the insurance litigation process and we will always handle your case as efficiently as possible.
If you have a dispute with a life insurance company, please call our office today at (305) 354-9313 for more information about how we can help.