Browse: Home / life insurance claim
By Ed Hinerman on June 26, 2012
With the possible exception of AARP, life insurance companies truly go out of their way to make sure every legitimate life insurance claim is paid and if the legitimacy of the claim is in a gray area, could really be seen both ways, they will almost always come down on the side of the insured. ...read more
Posted in death benefit, incontestability, insurance, lapse, life insurance, life insurance claim process, reinstatement | Tagged automatic bank draft, insurance, late payment notice missed, legitimate life insurance claim, life insurance, life insurance claim, life insurance claim denied, life insurance claim paid, misrepresented health on reinstatement application, offer to reinstate without application missed, policy reinsated incontestable after 2 years, premium missed, premiums paid, reinstate by just sending premium, reinstatement application, second addressee for on notices, sufficent reason to deny claim |
By Ed Hinerman on May 14, 2012
There is probably no more misunderstood part of a life insurance policy than the contestability or incontestability period. This is the two year period beginning with the date the policy goes in force during which a company can review the underwriting and pull additional records to make sure their underwriting decision was correct when you ...read more
Posted in contestability, death benefit, insurance, life insurance | Tagged 2 year contestability period, assuming client is telling the truth, change the underwriting class, companies want to pay legitimate claims, contestability period, deduct difference from death benefit, even if questionable, except for non payment of premiums, fraud, graded benefit policies, incontestability, insurance, life insurance, life insurance claim, policy will not be contestable, return of premium with interest |
By Ed Hinerman on April 5, 2012
What day Ed? It’s a strange thought process I go through some days preparing to add to this heap of my opinion called Ed Hinerman On Life Insurance. I started to write this yesterday and got off on a tangent that was so full of myself it triggered my gag reflex. Thank God for the ...read more
Posted in customer service, death benefit, Independent agent, insurance, life insurance, life insurance claim, life insurance claim process | Tagged agent delivered the check, agent handle claim process, annual review chance to get more business, call customer service, company trained sympathetic claims person, customer service values, forms needed, home office experiencing a higher than normal call volume, I answer the phone, insurance, life insurance, life insurance claim, life insurance claim filed, phone menu drill down, push to close the sale, questions on policy, serve not sell
By Ed Hinerman on March 31, 2012
I had an interesting email question yesterday concerning whether or not there is a time limit on filing a claim for life insurance. There are plenty of stories out there about old stock being found and old life insurance policies turning up. In this case the son who called me isn’t even sure if his ...read more
Posted in death benefit, insurance, life insurance, life insurance claim, pilot, private pilots | Tagged AOPA member, death certificate, insurance, insurance claim statute of limitations, life insurance, life insurance claim, life insurance in force, no policy too old, old insurance claims, old life insurance policies turning up, pay interest from date of death, pay interest on death benefit, private pilot life insurance |
By Ed Hinerman on September 9, 2010
There has always been a stigma attached to life insurance and life insurance companies that they really will do all they can to get out of paying a life insurance claim. People really want, on some level, to believe life insurance companies really don’t pay out millions and billions in death benefits. Probably the biggest ...read more
Posted in incontestability, insurance, life insurance, pilot, skydiving | Tagged approved, contestable, declined, foreign travel, hazordous hobby, incontestable, insurance, life insurance, life insurance claim, pilot, skydiving, student pilot
By Ed Hinerman on August 10, 2009
I really think it says something about the morals of our country when people will potentially put their family protection through life insurance at risk by lying and attempting to defraud the company that is willing to help protect their family’s future. I guess the good news, for me, is that it happens often enough ...read more
Posted in incontestability, insurance, life insurance | Tagged fraud, incontestability period, insurance, life insurance, life insurance claim, materially misrepresentated
