Popular on Rezul
- "We Don't Give a Crap About Interest Rates." Baby Boomers are Flexing Their Equity Muscles
- Pulitzer Prize Nominated Lauren Coyle Rosen Releases New Album, Covers and Veils in Blue
- No Limits Method Revolutionizes Neurodivergent Education Through Embodied Cognition
- Lake life awaits on Long Lake!
- Greenfield Communities Honored with Eight 2025 MAME Awards
- Detroit Grand Prix High Profile Media Exposure, $100 Million Financing for Major Acquisition & Growth Strategy; Remote Lottery Platform: Lottery.com
- Leadership Expert and Author Adam Holbrook Launches Breakthrough Book: Character Evolution
- Corner Property Management Welcomes Seneca Reserve HOA!
- Tomorrow's World Today Shines Bright with Four Telly Awards at the 46th Annual Telly Awards
- June Is Men's Health Month 2025:
Similar on Rezul
- As Sober.Buzz Community Explodes It's Growth Globally it is Announcing "Spreading the Good BUZZ" Podcast Hosted by Josh Case Debuting July 7th
- CredHub and All County Property Management Franchise Corp. Partner to Empower Franchisees with Rental Payment Credit Reporting Solutions
- Pregis Shares 2024 Sustainability Report Highlighting Progress in Circular Product Innovation, Emissions Accountability, and Global Impact
- Work 365 Launches Certified Provider Integration (CPI) Program to Help Distributors and CSPs Navigate Microsoft's Evolving Ecosystem
- AI changes cryptocurrency market trading, TWL Miner launches new 1-day contract, giving away over $1 million
- A Global First: NaturismRE™ Launches the Global Urgency Index
- 14th CryptoSuper500 Report Releases: Bitcoin's Evolution into a Global Supercomputer
- Ross Toohey named Managing Director in Chesterfield, Missouri
- High Profile Gateway Race Events With Strong Brand Exposure Plus Sponsorship in Female Motorsports; $100 Million Financing Unlocked: Lottery.com
- ASI Accelerates iMIS® Innovation by Acquiring CSI's Product Suite and Expert Team
$5 Million Paid from Denied Life Insurance Claim
Rezul News/10672167
Life insurance claim investigation uncovers bad policy management by insurer resulting in $5 million death claim payout.
MIAMI - Rezul -- The Center for Life Insurance Disputes recently represented the widow of a Florida dentist in a $5 million life insurance claim dispute. The widow tried to file a claim for the death benefits of a life insurance policy upon her husband's death but was told by the insurer the policy had lapsed two months before his death.
The life insurance was intended to take care of her financial needs after his death. It appeared there would be nothing for her. She was devastated.
The widow retained the Center for Life Insurance Disputes (the Center) to investigate and establish if she had a valid claim.
From their claim investigation the Center found that the insurer had been providing the husband with incorrect policy information for at least 2 years before the policy lapsed. It also uncovered that the insurer had sent more than one set of premium notices that showed different amounts owed at about the same time. And finally, the Center determined that the insurer was managing the policy under the rules and regulations of the wrong state.
More on Rezul News
One especially critical policy management violation by the insurer was that the insured was being mailed policy status statements quarterly and annually but the information didn't match when it should have. The policy information on the last day of the year should have been the same on both the Quarterly Statement and the Annual Statement – it wasn't.
The Center argued that these errors caused the policy to lapse, not the policyowner.
Life insurance companies are obligated to provide accurate and reliable information to their policyholders. The information an insurer provides -- especially for universal life insurance and whole life policies -- sets the foundation for how a policyowner can keep their policy in good standing. When the information is faulty so too will be the owner's efforts to pay enough premium.
The Center presented their findings to the life insurance company and it was met with skepticism and pushback. The insurer bellowed that their systems were reliable. Their aggressive stance didn't deter the Center, which knew the facts would prove them correct. After several rounds of document sharing and arguments the insurer conceded by paying the claim -- but not admitting any wrongdoing.
More on Rezul News
This was not just a violation of a single policy and its effect on a beneficiary. The mismanagement of the policy by the insurer affected everyone whose policy was being managed by the same computer system and practices.
The widow received her $5 million life insurance claim payment.
The life insurance was intended to take care of her financial needs after his death. It appeared there would be nothing for her. She was devastated.
The widow retained the Center for Life Insurance Disputes (the Center) to investigate and establish if she had a valid claim.
From their claim investigation the Center found that the insurer had been providing the husband with incorrect policy information for at least 2 years before the policy lapsed. It also uncovered that the insurer had sent more than one set of premium notices that showed different amounts owed at about the same time. And finally, the Center determined that the insurer was managing the policy under the rules and regulations of the wrong state.
More on Rezul News
- Garden City Realty recognizes top REALTOR® Brent Jackson and Norm Clay
- Exciting News: Pivotal Health Solutions Acquires Revolutionary Portable Parallel Bars
- Miboxer Achieved New Goal in GILE 2025
- Jeopardy!'s Ken Jennings Headlines National Mensa Event
- Mensa Foundation Prize Awarded to Neuroscientist-Pianist
One especially critical policy management violation by the insurer was that the insured was being mailed policy status statements quarterly and annually but the information didn't match when it should have. The policy information on the last day of the year should have been the same on both the Quarterly Statement and the Annual Statement – it wasn't.
The Center argued that these errors caused the policy to lapse, not the policyowner.
Life insurance companies are obligated to provide accurate and reliable information to their policyholders. The information an insurer provides -- especially for universal life insurance and whole life policies -- sets the foundation for how a policyowner can keep their policy in good standing. When the information is faulty so too will be the owner's efforts to pay enough premium.
The Center presented their findings to the life insurance company and it was met with skepticism and pushback. The insurer bellowed that their systems were reliable. Their aggressive stance didn't deter the Center, which knew the facts would prove them correct. After several rounds of document sharing and arguments the insurer conceded by paying the claim -- but not admitting any wrongdoing.
More on Rezul News
- New book, "High-Tech Heroes," redefines billionaire as someone who improves a billion lives
- Durex Products Wire Cloth Screen Media: Engineered for Maximum Performance and Durability
- OPRAH.COM Featured Award-Winning Novel AS FAR AS YOU GO BEFORE YOU HAVE TO COME BACK now Available as Audiobook
- How Kallie Boxell Helps Texas Companies Solve the Talent Equation
- Eureka Business Group Awarded Contract to Market Cedar Hill ISD Properties for Disposition
This was not just a violation of a single policy and its effect on a beneficiary. The mismanagement of the policy by the insurer affected everyone whose policy was being managed by the same computer system and practices.
The widow received her $5 million life insurance claim payment.
Source: The Center for Life Insurance Disputes
0 Comments
Latest on Rezul News
- Coming Soon: The Cottages at Powell Park Offer a Rare Blend of Charm, Convenience, and Community in Raleigh
- CredHub and All County Property Management Franchise Corp. Partner to Empower Franchisees with Rental Payment Credit Reporting Solutions
- Pregis Shares 2024 Sustainability Report Highlighting Progress in Circular Product Innovation, Emissions Accountability, and Global Impact
- New Bethany Acquires Former Diocesan Headquarters to Expand Services
- Initial Order Received from Vietnamese Maritime Security and Defense Services for Advanced Video Compression Solution: RMX; Stock Symbol: RMXI
- Keebos Launches New Universal Pearl Strap That Attaches to Any Phone Case
- A Tremendous Success: The Triangle's First Ever St. Jude Dream Home® by ICG Homes
- Work 365 Launches Certified Provider Integration (CPI) Program to Help Distributors and CSPs Navigate Microsoft's Evolving Ecosystem
- Bryckel Announces Seamless Integration with Rent Manager to Streamline Lease Abstraction
- Five Aster Awards! Fusion Marketing Group Brings Home Big Wins in 2025!
- Corner Property Appointed as New Management Company for Plymouth Hill COA in Plymouth Meeting, PA
- AI changes cryptocurrency market trading, TWL Miner launches new 1-day contract, giving away over $1 million
- Wayne Homes Showcases Modern Farmhouse Floor Plans with Custom Farmhouse Home Designs Built on Your Land
- A Global First: NaturismRE™ Launches the Global Urgency Index
- 14th CryptoSuper500 Report Releases: Bitcoin's Evolution into a Global Supercomputer
- Ross Toohey named Managing Director in Chesterfield, Missouri
- High Profile Gateway Race Events With Strong Brand Exposure Plus Sponsorship in Female Motorsports; $100 Million Financing Unlocked: Lottery.com
- ASI Accelerates iMIS® Innovation by Acquiring CSI's Product Suite and Expert Team
- Berkshire Hathaway HomeServices FNR opens new branch office in Fleming Island
- PUSHERMAN- – Best Feature Documentary Official Winner at NYC and London Festivals