Life Insurance Reasons to Deny Death Benefits

Discussion in 'Life Insurance Forum' started by Insuranceguy1985, Aug 30, 2011.

  1. Insuranceguy1985
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    Insuranceguy1985 Active Member

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    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!
     
  2. Mark
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    Mark Well-Known Member

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    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.
     
  3. VolAgent
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    VolAgent Well-Known Member

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    Still pays out, just not to the spouse.
     
  4. WinoBlues
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    WinoBlues Well-Known Member

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    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
     
  5. somarco
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    somarco Well-Known Member

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    All the time?

    Just how bad is it in Griffin?
     
  6. Josh
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    Josh Well-Known Member

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  7. VolAgent
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    VolAgent Well-Known Member

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  8. Cornelius
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    Cornelius Well-Known Member

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    Do any of you ever add a accidental death rider to a policy?
     
  9. WinoBlues
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    WinoBlues Well-Known Member

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    Not I. I do not see the value in most cases. I can only remember 3 claims that were accidental.
     
  10. VolAgent
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    VolAgent Well-Known Member

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    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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