Our life insurance attorneys can get old denied claims paid out. We recently forced a life insurance company to pay the full policy on a twenty-year-old life insurance claim.
The time limit for filing a life insurance claim varies depending on the terms and conditions of the policy, as well as the laws in the state or country where the policy was issued.
In general, there is no specific time limit for filing a life insurance claim, but it's typically recommended to do so as soon as possible after the insured's death. Most insurance companies require that a claim be filed within a reasonable amount of time, such as within 60 to 90 days of the insured's death.
If the beneficiary waits too long to file a claim, the insurance company may deny the claim or require additional documentation to support the claim. In some cases, the insurance company may also need to investigate the claim, which can delay the payment of the death benefit.
If you're the beneficiary of a life insurance policy and are unsure about the time limit for filing a claim, it's best to review the policy terms and consult with the insurance company or an attorney for guidance.
There are several reasons why a life insurance claim may be denied. Here are five possible reasons for denied life insurance claims:
Material misrepresentation: If the policyholder or beneficiary provided false or misleading information during the application process, the insurance company may deny the claim.
Suicide: If the policy has a suicide exclusion clause and the insured died by suicide during the exclusion period, the insurer may deny the claim.
Policy lapse: If the policy lapsed due to non-payment of premiums, the insurer may deny the claim.
Contestability period: If the insured died within the contestability period (usually the first two years of the policy), and the insurer finds evidence of fraud or misrepresentation, the claim may be denied.
Exclusions or limitations: If the death is due to a cause that is specifically excluded or limited in the policy, such as a high-risk activity or pre-existing medical condition, the insurer may deny the claim.
It's important to note that the specific reasons for denied life insurance claims will depend on the terms and conditions of the policy, as well as the circumstances surrounding the insured's death. If a life insurance claim is denied, the beneficiary or policyholder may be able to dispute the decision or seek legal recourse.