Life Insurance Exclusion – An Overview
Although it isn’t common, there are cases where a life insurance policy can be voided due to the exclusion of a felony. In these cases, it is important to know what to do and whether or not it will impact any claims you have made.
If you have a life insurance policy and have been convicted of a felony, your policy may be voided. This means that the life insurance company will try not to pay out a death benefit if you die. The exclusion of felonies is usually listed in the fine print of life insurance policies, but our life insurance attorneys fight these exclusions and win.
What Does Life Insurance Exclusion Mean?
Life insurance exclusion means that if you commit a qualified felony or if you failed to disclose that you are a qualified ex-felon (26 USC 51(d)(4)), your life insurance policy will no longer be effective. This means that the insurer can try no to pay out a death benefit if you die.
While in most cases, the life insurance policies get voided after the felony has been committed, there are some instances where the exclusion can apply to felonies that were committed before the policy was issued as well – even if disclosed.
Which Felonies May Lead to Life Insurance Exclusion
There are several felonies that may render your life insurance policy void. These include, but are not limited to:
- Murder
- Manslaughter
- Arson
- Burglary
- Robbery
- Kidnapping
- Drug trafficking and
- Other similar felonies under section 26.
Is There Any Way to Recover From Life Insurance Exclusion?
If your life insurance policy has been voided due to a felony conviction, you may be able to recover from the exclusion by retaining our life insurance lawyers.
Will Life Insurance Exclusion Impact My Claims?
If your life insurance policy has been voided due to a felony conviction, it will not impact any claims you have already made. However, it will impact any future claims. Our life insurance attorneys fight these exclusions and win.
Life insurance attorneys can help you win your case if you have had your policy voided due to a felony conviction. An attorney can help you understand your rights and options.