If you’re the beneficiary of a loved one’s life insurance policy, it tells you that the policyholder was invested in your ongoing well-being and wanted to contribute to your financial future. In other words, they chose to honor your relationship in this way, and if you face a claim denial after your relative passes, it can make a difficult time that much more so. Reach out for the skilled legal guidance of an experienced San Francisco life insurance claims attorney today.
We turn to life insurance for the peace of mind it provides. Life insurance helps to ensure that the beneficiaries we name will receive the policy amount upon our passing, which can help them on the journey forward. In other words, life insurance can play an important role in estate planning, but if your beneficiary faces a claim denial when the time comes, it can be exceptionally challenging.
California has important laws in place that are designed to protect both life insurance companies and policyholders. To begin, there is what is known as a contestability period, which is the two years that follow the policy’s implementation. During this stretch of time, the insurance company has the right to identify misrepresentation on the policyholder’s part, which can lead to the policy being denied or voided. The most common forms of misrepresentation include:
It’s important to note that while the insurance company is limited to two years for identifying misrepresentation that is caused by error or oversight, there is no time limit on denials related to fraudulent practices.
The law also affords policyholders protections that include:
The truth is that filling out life insurance applications is challenging for even the most careful among us. The instructions tend to be clunky, and by the time you reach the end, it’s not uncommon to have made a mistake or two. The kinds of errors that are likely to ultimately make a difference include those related to the policyholder’s age, the policyholder’s medical history, and the policyholder’s identity.
The focused San Francisco Life Insurance Claims attorneys at Roberts Disability Law, P.C., have a wealth of impressive experience helping clients like you resolve life insurance claims concerns, and we’re here for you, too. Learn more by contacting us today.
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