When you purchase a life insurance policy or are rewarded one through an employer, you enter a legally binding contract that is supposed to protect and provide for your loved ones if a tragic accident should occur. Unfortunately, many claims aren’t that simple. Life insurance companies often look for any loophole or excuse to delay or deny a client’s valid payout request.
When this happens, insurance companies will commonly claim that a misrepresentation, omission, or concealment by the policy holder happened at the time of application. They may claim that a single missed premium payment by the insured resulted in a lapse of coverage. They may additionally stall and delay their decision as long as possible and claim that an agent made an error when in reality the company was trying to get out of issuing payment.
If you or someone you love has had this happen, you deserve to know that you aren’t alone. Life insurance companies often try and take advantage of the family members of innocent clients. The good news is that you have the power to fight back. You can take legal action and receive the compensation you and your family deserve after already having suffered a tragic loss. First, you need a skilled Milwaukee, WI life insurance lawyer on your side.
The Reality of Life Insurance Disputes
The unfortunate truth is that life insurance claims, once denied, are often difficult to dispute. Many claims are denied multiple times unless the client has the help of an insurance lawyer on their side who understands the loopholes and excuses these companies typically utilize and how to fight back against common deceptive practices.
There’s also the fact that many life insurance policies are governed by the Employee Retirement Income Security Act of 1974 (often referred to as ERISA). If your insurance policy is subject to ERISA guidelines, you must appeal the decision to deny your claim within sixty (60) days of the receipt of the notification of denial. This is an extremely short period of time and it can speed by rapidly unless you know exactly what you’re up against and how to best go about appealing.
While most life insurance policies governed by ERISA require a single appeal, some may require a second. Under ERISA guidelines, you must exhaust your appeals before you can file a lawsuit against the insurance company. The experience of going through repeated denials and appeals can be incredibly frustrating. Without the help of an experienced attorney working to preserve your rights, claim acceptance can seem impossible.
Group Insurance Policies
Group life insurance policies in the state of Wisconsin are generally issued through an employer. As such, ERISA guidelines also govern these policies. These types of policies can cause issues if an employer, for example, breaches their obligations and fails to include a family member in the group insurance plan. This can result in devastating consequences if your family experiences a loss the insurance company suddenly claims your policy doesn’t have the coverage to support.
When an employer makes a promise to an employee to provide for life insurance and they fail to do so, you may have a right to file a lawsuit against that employer for what is known as breach of fiduciary duty or equitable estoppel. This type of lawsuit seeks to compel the employer to pay the benefits that the company promised to provide but failed to deliver.
A Wisconsin Life Insurance Lawyer Can Fight for Your Rights
The denial of life insurance benefits is a contractual problem and requires an attorney that is familiar with ERISA, insurance law, life insurance applications, life insurance policies, and the terminology that gets used in contracts and commonly misinterpreted. Urban & Taylor, S.C. has experience litigating life insurance denial cases against numerous life insurance companies in the state of Wisconsin and has the expertise you need.
If your family has a life insurance claim that has been denied, we may be able to force the insurer to pay the sum your loved one intended you to receive. Contact our Milwaukee office to learn more or speak with an experienced and knowledgeable Milwaukee, WI life insurance lawyer. We can help your family move forward.