Life Insurance Claim Investigations Explained by 30-year Expert - PRNewswire

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Here are answers to the most common questions about life insurance claim investigations:

Why can a life insurance claim be investigated?

The Contestability provision in life insurance policies allows insurers to look for misrepresentations on a life insurance application for 2 years after the policy was placed.

What is involved in a life insurance claim investigation?

The insurer searches for medical records, prescription drug records, driving records, criminal records, tax returns and psychological therapy records on the insured.

When they find any of these they examine the records and compare what the records state versus what was recorded on the life insurance application.

If they find differences they may use that to deny the death claim.

What can I do to make sure I get the money when my life insurance claim is under investigation?

Have your own representative work with the insurer's examiner.

Complying with everything an insurer asks for will not help get the claim paid. In fact, it may delay the claim investigation and, at worst, cause the claim to be denied.

As a beneficiary you are not responsible for doing the work of the insurer's claim examiner. Your participation should be limited to only the things you're obligated to do.

Having your own representative will speed the process and protect your interests.

How long does the insurance company have to investigate my claim?

A life insurance claim investigation cannot take longer than is necessary for the insurer to obtain relevant information and make a decision within 30 days.

How many death claims are denied?

Many more than are ever reported. Estimates are between $375 million and $1.3 billion per year.

What can I do if my death claim is under investigation?

The Center for Life Insurance Disputes offers free consultations and no-money-down representation to life insurance claim beneficiaries.

SOURCE The Center for Life Insurance Disputes