Life insurance is a primary financial tool that affords us the ability to continue providing our family members with financial support if our ability to do so personally is cut short. The peace of mind obtained from life insurance can prove invaluable, but if the policy in question leads to issues after the fact, it doesn’t honor your wishes or your legacy and can lead to serious financial setbacks for your loved ones. 

If the life insurance policy that your beloved family member purchased to help protect you financially leads to a claim denial, it’s time to consult with an experienced life insurance claims attorney in San Francisco. 

Denial Based on Alleged Misrepresentation

The two years after a life insurance policy is issued is known as the contestability period. During this time, the life insurance company has the right to deny a claim for information that it determines to be misrepresentative of the facts. This misrepresentation can be a result of any of the following:

• Fraudulence 
• Oversight 
• Error

Once the contestability period has passed, so too does the life insurance company’s opportunity to deny the claim in question – other than for actual policyholder fraudulence, which refers to purposefully misrepresenting information for personal financial gain. 

The kind of incorrect information that is most closely associated with policies being denied – or voided completely – during the contestability period includes all the following:

• The policyholder’s age
• The policyholder’s identifying information
• The policyholder’s medical history

Form Filing

Applications for life insurance policies are long and complicated documents, and errors related to filling them out are not uncommon. To begin, the instructions are not always clear, and the wording can be misleading – either of which can lead to a claim denial for misrepresentation. This is a testament to how much there is to go wrong in relation to life insurance claims, which makes having a trusted life insurance claims attorney in San Francisco in your corner to your advantage. 

Applicable Legal Rules

There are several important California regulations guiding life insurance claims that you should be aware of, including:

• Policyholders are afforded a 30-day grace period from their payment due date, which is considered within the realm of being reasonably late. While making timely payments is clearly important, coverage cannot be denied within this time frame. 
• Those who purchase life insurance policies have ten days from the date they sign on the dotted line to nix the transaction and be fully refunded in the process. There can be no financial consequences for taking advantage of this free look period. 
• Life insurance companies are required to pay beneficiaries who make valid claims within 30 days. Failing to do so can lead to fines and penalties on the part of the company.   

You Need an Experienced Life Insurance Claims Attorney in San Francisco on Your Side

The seasoned life insurance claims attorneys at Roberts Disability Law, P.C., in San Francisco, dedicate their imposing practice to helping valued clients like you obtain fair claims resolutions, and we’re here for you, too. To learn more, please contact us today.