Answers to Common Questions About Life Insurance
From the attorneys of DI Law Group
The following information is provided in order to help you understand some of the general concepts and common concerns that arise in relation to life insurance claims. For specific answers from an experienced insurance lawyer, please contact the offices of DI Law Group to schedule a free consultation. We serve clients nationwide.
Q: What is life insurance?
A: Life insurance is generally purchased as financial protection against losses that result because of death. When an individual has a life insurance policy, and he/she passes away, the beneficiaries designated under his/her policy will receive payment for benefits covered under the life insurance policy.
Q: What is a life insurance policy?
A: A life insurance policy is a legally binding contract between a policyholder and an insurance company. The contract specifies that in the event of the policyholder’s death, the insurance company will pay a set amount of money to the policyholder’s beneficiaries according to the terms of the insurance contract.
Q: How long does my life insurance company have to pay my claim?
A: An insurance company is supposed to pay claims within in a reasonable amount of time. Generally, this should not be more than about 6-8 weeks. If they have not paid you during this time frame, then they may be acting in bad faith.
Q: If someone other than the designated beneficiary is claiming to be the beneficiary of a life insurance policy, what should I do?
A: Contact us, and we will get the insurance company to pay you the money that you are entitled to. The attorneys of DI Law Group combine 25 years of legal experience in handling insurance matters and possess a thorough understanding of the complex nature of life insurance polices to serve you.
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