Life Insurance Lawyer Alexandria Virginia

Some reasons for denied claims in variable life insurance policies include:

1. Failure to pay premiums: If the policyholder fails to pay premiums, the policy may lapse or be cancelled, and the insurer may not pay the death benefit.

2. Suicide exclusion: Most life insurance policies have a suicide exclusion, which means that the policy will not pay a death benefit if the policyholder dies by suicide within a certain period after the policy is issued.

3. Misrepresentation or fraud: If the policyholder provides false or incomplete information on the policy application, the insurer may deny the claim.

4. Contestability period: Most life insurance policies have a contestability period of two years during which the insurer can investigate and deny a claim if they find any material misrepresentation or omission in the policy application.

5. Investment losses: With variable life insurance policies, the policyholder bears the investment risk, and if the investments perform poorly, the cash value of the policy may be insufficient to cover the death benefit.

6. Policy exclusions: Some policies may have exclusions for certain causes of death, such as death due to war, terrorism, or certain hazardous activities.

To avoid denied claims, it is important for policyholders to understand the terms and conditions of their variable life insurance policy and to ensure that they provide accurate and complete information when applying for coverage. Additionally, policyholders should regularly review their investment options and adjust them as needed to ensure that the cash value of the policy is sufficient to cover the death benefit. If a claim is denied, it is important to seek the advice of a qualified attorney to protect your rights and pursue the benefits that you are entitled to.