When a family in Florida loses a loved one, the pain and grief can be immense. Unfortunately, the practical costs can also be significant. This includes dealing with final expenses, hospital bills and funeral costs. When a life insurance policy refuses to pay out, surviving family members may face serious financial consequences. One veteran is fighting USAA, a major insurer for American military forces, in court after the company refused to pay out $1 million in life insurance benefits following the death of her husband.
The reason why short-term policies cost less
Individuals in Florida and throughout the country are eligible to buy health insurance through the Affordable Care Act (ACA). About 80 percent of those who buy policies through the ACA receive subsidies to make their policies more affordable. As part of changes to the system announced in August 2018, it is now possible to buy short-term policies that last for up to 364 days.
Why might an insurer deny a life insurance claim?
You may think that purchasing a life insurance policy is the safest way to provide for your loved ones after your death. It is a simple transaction with you paying your premiums and your loved one receiving a payout after your death.
