Has your own insurance company denied a life insurance claim?
The attorneys at Howard Lewis & Petersen, PC can help you obtain the life insurance benefits you paid into for all those years. Remarkably, life insurance denial cases are extraordinarily complicated and often involve Federal and state law. Many times life insurance policies are governed by The Employee Retirement Income Security Act of 1974 (“ERISA”) Other times your life insurance policy is governed by Utah law. An experienced Utah personal injury attorney can help you navigate this uncertain water.
Types of Utah Life Insurance.
(A). Term Life Insurance. Term life insurance is supposed to pay the beneficiary when the covered person dies. There can be exceptions to coverage, such as suicide, murder and the devil is in the details of the life insurance contract. Insurance contracts are generally one-sided and you have no bargaining power whatsoever.
Example: Wife purchases a $100,000 life insurance policy that covers her husband in the event her husband dies prematurely, leaving her with the kids to raise alone. Often, the homemaker can have less education and certainly places the rearing of the children ahead of their own personal advancement in the workforce. Having life insurance proceeds and designating the wife as the beneficiary will help her get back on feet and recover. When the husband dies, a lump sum of $100, 000 will be received, or received according to the terms of the policy.
Term life insurance does not accumulate value and it only pays out when the covered person dies.
If you encounter a life insurance denial you should contact a personal injury attorney at Howard Lewis & Petersen, PC for a free consultation.
(B). Whole Life Insurance.
A Whole Life insurance policy generally covers people until death, unless you don’t pay the premium. Whole Life insurance accumulates a cash value as you pay into it. Whole Life insurance pays a fixed benefit when the covered person dies. It pays the benefit to the designated beneficiary. If allowed under the Whole Life insurance policy provisions, you can borrow against the cash value that has accumulated over the years.
(C). Accidental Death and Dismemberment Life Insurance (“ADD”).
ADD life insurance policies only cover accidental death, or certain types of specified benefits that are exactly laid out in the one-way life insurance policy.
Accident death in Utah is defined by Utah case law handed down by the Utah State appellate courts. Sometimes, Federal law is used to interpret when an accident occurs triggering coverage.
ADD life insurance should be considered in addition to regular term life insurance or whole life insurance.
CONCLUSION: LIFE INSURANCE DENIALS
When your loved one dies and a life insurance policy is denied, call the Utah personal injury attorneys at Howard Lewis & Petersen, PC. The personal injury lawyers at Howard Lewis & Petersen, PC can help you with your life insurance denial cases in Salt Lake City, Moab, St. George, Provo/Orem, Lehi, Spanish Fork and across the Wasatch Front. Call (801) 373-6345 for a free consultation today.