When people buy life insurance they expect their loved ones to be covered at a time when they are emotionally vulnerable. They do not expect the beneficiaries to be fighting with the insurance company over whether or not certain conditions were met many years ago when the insurance policy was sold.
When a life insurance claim is delayed or denied, it can have a devastating effect on the beneficiaries of the deceased. In addition to coping with grief, loved ones must also engage in an insurance dispute. Like any successful business, insurance companies are seeking to maximize their profits and minimize their expenses. One of the way they do it is by denying life insurance claims. In attempts to avoid payment, insurers may point to several factors that support their decision, including:
Policy exclusions: A common exclusion is suicide or self-inflicted injury. In such cases, our Illinois Life Insurance Lawyers will work relentlessly to prove your loved one’s death was an accident. This may involve examining medical or accident records. Generally, Illinois law allows an insurance company to avoid paying the claims if certain general exclusions apply. A life insurance company has the right to deny benefits if:
1) The insured commits suicide within the first two years of the policy.
2) The insured dies as a result of war or act of war while serving in the naval or military service or while serving in any civilian noncombatant unit serving with such forces.
Resource: Life insurance lawyers