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Reply to Life Insurance Reasons to Deny Death Benefits     
Old 08-30-2011, 02:28 PM   #1
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Insuranceguy1985 on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Life Insurance Reasons to Deny Death Benefits
I am still relatively new to the business but I just want to see if any of you have seen a death benefit claim get denied, and if so what was the reason. After 2 years, i know suicide would get covered but what could an insurance company say to deny a claim after this period? Any stories would be great thanks!
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Old 08-30-2011, 02:44 PM   #2
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Murder!

People buy insurance policies on their husbands or wifes all the time and then kill them, thinking they will cash in that policy.


Most of the time they get caught.

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Old 08-30-2011, 02:46 PM   #3
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VolAgent on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Originally Posted by Markingriffin View Post
Murder!

People buy insurance policies on their husbands or wifes all the time and then kill them, thinking they will cash in that policy.


Most of the time they get caught.
Still pays out, just not to the spouse.
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Old 08-30-2011, 02:49 PM   #4
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WinoBlues on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Originally Posted by Insuranceguy1985 View Post
I am still relatively new to the business but I just want to see if any of you have seen a death benefit claim get denied, and if so what was the reason. After 2 years, i know suicide would get covered but what could an insurance company say to deny a claim after this period? Any stories would be great thanks!
I have seen 1. Actually JNL only denied 1 of her claims. They paid on the other policy that was past the 2 yrs. I understand that the other 10+ companies all denied their claims. I did not write any of these.

I did have one that the company first denied (IMO rightfully) due to lapse status. After everyone lawyered up, And I called my E&O carrier. The company caved and paid her a third of the claim to go away.

Lee

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Old 08-30-2011, 03:25 PM   #5
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somarco on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
People buy insurance policies on their husbands or wifes all the time and then kill them, thinking they will cash in that policy.
All the time?

Just how bad is it in Griffin?
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Old 08-30-2011, 03:31 PM   #6
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
One claim that got a lot of attention was the one on Heath Ledger's insurance policy.

Heath Ledger Life Insurance Case Settled | TMZ.com
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Old 08-30-2011, 03:36 PM   #7
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Originally Posted by MedicarePlanSolutions View Post
One claim that got a lot of attention was the one on Heath Ledger's insurance policy.

Heath Ledger Life Insurance Case Settled | TMZ.com
That was a valid contestment if I never saw one. But money will get you a settlement almost every time.
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Old 08-30-2011, 04:09 PM   #8
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Cornelius on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Do any of you ever add a accidental death rider to a policy?
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Old 08-30-2011, 04:52 PM   #9
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WinoBlues on Life Insurance Reasons to Deny Death Benefits - Insurance Forum
 
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Originally Posted by Cornelius View Post
Do any of you ever add a accidental death rider to a policy?
Not I. I do not see the value in most cases. I can only remember 3 claims that were accidental.
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Old 08-30-2011, 04:56 PM   #10
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Life Insurance Reasons to Deny Death Benefits Re: Life Insurance Reasons to Deny Death Benefits
Originally Posted by WinoBlues View Post
Not I. I do not see the value in most cases. I can only remember 3 claims that were accidental.
Not only does the cause of death have to be an accident, but death must occur within a certain period of time. Typically 90 to 180 days after the accident.

When they give it away, it doesn't have much value.
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