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Life Insurance

Life Insurance Lawyer

Are you struggling with a life insurance issue in St. Louis, Missouri or the state of Wisconsin? A life insurance claim lawyer from the Law Offices of Phillip A. Tatlow, LLC, can offer you the support and guidance you need.

Our life insurance legal counsel in Missouri and Wisconsin can explain your rights and the steps you can take to get the benefits you are due. Whether your claim was denied or you’re facing delays, our team has the knowledge to help you move forward. Contact us today to discuss your case and find out how we can assist you in securing your life insurance benefits.

What Is a Life Insurance Policy?

A life insurance policy is a contract between you and an insurance company. In this contract, you agree to pay the company a certain amount of money, called a premium, on a regular schedule. In return, the insurance company promises to give money to other people or parties, known as beneficiaries, after you die. This money can help your beneficiaries cover things like living expenses, debts, and funeral costs.

Types of Life Insurance Policies

If you’re looking into life insurance options, you’ll find there are several types of policies to choose from. Each type has its own features, and picking the right one depends on your needs, your goals, and how long you want the coverage to last. Here’s a breakdown of the main types of life insurance policies:

  • Term Life Insurance: This is the simplest and most affordable type of life insurance. For a term life insurance policy, you choose a period – usually 10, 20, or 30 years – during which the insurance covers you. If you die within this period, the insurance company pays your beneficiaries the amount you purchased with your policy. If you outlive the policy, it ends, and neither you nor your beneficiaries receive a payout.
  • Whole Life Insurance: Unlike term life insurance, whole life insurance covers you for your entire life. It’s more expensive because it guarantees a payout at the end of your life, and part of your premium goes into a savings account that grows over time. This savings part is called a “cash value,” which you can borrow against or use to pay premiums later on.
  • Universal Life Insurance: This type also offers lifelong coverage but with more flexibility than whole life insurance. You can adjust the amount of your premium payments and the death benefit (the amount paid out upon your death) within certain limits. Like whole life insurance, it includes a cash value component that earns interest.
  • Variable Life Insurance: With this type of policy, you also get lifelong coverage and a cash value account. However, variable life insurance allows you to invest the cash value in different accounts, such as stocks or bonds. This means your cash value and death benefit can vary based on how well your investments do. It offers higher potential returns but comes with more risk.

The Life Insurance Claims Process

Claiming the life insurance benefits you are owed after the death of a loved one can be complex and time-consuming, and sometimes, life insurance litigation services are necessary. Here’s a general overview of the steps in the claims process, but please note that it will vary depending on your location and the matter of claim.

Notifying the Insurance Company

First, you’ll need to inform the insurance company about the death of the policyholder. You can do this by calling their customer service number or contacting the insurance agent who sold the policy. It’s important to do this as soon as possible to start the claim process. The insurance company will then tell you about the documents you need to submit to file the claim.

Gathering Necessary Documents

Next, you must collect all the required documents. This usually includes the death certificate, the policy document, and a claim form. The death certificate is essential as it proves the policyholder has passed away. Usually, you need either the original certificate or a certified copy. You might also need to provide identification for yourself as the beneficiary and any other documents the insurance company requests.

Completing and Submitting the Claim Form

The insurance company will provide you with a claim form, which you need to fill out accurately. This form asks for information about the policyholder, the cause of death, and the beneficiary details. Make sure to answer every question thoroughly and truthfully. Once you have filled out the form and gathered all other required documents, send them to the insurance company as instructed.

Appealing Claim Denials

If the insurance company denies your claim, it’s not necessarily the end of the road. You have the right to appeal the decision. The appeals process can be complex, so it’s a good idea to seek legal advice if your claim is denied. A lawyer who provides life insurance legal services in Missouri and Wisconsin can help you navigate the appeals process, argue your case effectively, and increase the chances of overturning a denial.

Common Reasons for Life Insurance Claim Denials

Here are some common reasons why life insurance companies deny claims:

  • Lapsed Policies: If a policyholder doesn’t pay their premiums on time or outlives their term life insurance policy, the policy might lapse and become inactive. Insurance companies can cite these factors as reasons to deny a claim.
  • Suspected Misrepresentation: If the insurance company thinks the policyholder didn’t tell the truth on their application, such as by hiding a medical condition, they might deny the claim.
  • Policy Exclusions: Some policies don’t pay out for certain causes of death, such as risky activities. If the policyholder dies doing something the policy excludes, the claim could get denied.

If your life insurance policy claim gets denied, a life insurance legal advisor can help. They know how to challenge these denials effectively. They can help you understand why your claim was denied and work with you to appeal the decision. Choosing Missouri or Wisconsin life insurance litigation counsel can level the playing field and protect your rights in court if needed. Working with life insurance legal representation means having a professional on your side to make sure the insurance company treats your claim fairly.

How a Life Insurance Attorney Can Help

If you’re dealing with a life insurance issue in Missouri or Wisconsin, having a life insurance lawyer by your side can make a huge difference. These lawyers understand the rules that apply to life insurance policies and can interpret all the fine print. They can explain your rights and how the claims process works.

A life insurance attorney can review your case and tell you the best way to move forward. If your claim was denied, they can figure out why and help you appeal the decision. They can handle all the legwork involved in gathering the necessary documents and arguing your case to the insurance company.

If you have to go to court, a life insurance litigation attorney can represent you and fight for your rights. They can negotiate with the insurance company to get you the payout you deserve while you take the time you need to grieve with your family.

Contact a Missouri or Wisconsin Life Insurance Law Firm Now

Facing issues with your life insurance claim? Contact a life insurance lawyer in Missouri, Wisconsin, and the St. Louis area at the Law Offices of Phillip A. Tatlow, LLC. Getting started is easy. Reach out to us for a life insurance legal consultation so we can listen to your situation, offer you advice, and guide you on what to do next.

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