West Palm Beach Life Insurance Lawyer

West Palm Beach Life Insurance Attorney

Having a solid life insurance policy in place is a vital step for any adult living in the United States. However, after the passing of a loved one, the insurance company may deny the policy claim, leading to even more loss for the loved ones left behind. During this time, working alongside a West Palm Beach life insurance lawyer can ensure a favorable outcome for your case.

Why Hire a Life Insurance Lawyer?

At the Law Offices of John D. Ameen, P.A., our lawyers don’t let insurance companies take advantage of our clients. Understanding a unique insurance policy can be difficult, along with asserting your legal rights as a Florida resident.

Our team can use its 30+ years of legal experience to resolve life insurance cases quickly and efficiently. We offer steadfast legal representation to residents of West Palm Beach and the surrounding towns.

The Different Types of Life Insurance Policies in Florida

West Palm Beach is an ideal place for many Americans, especially retirees. Between 2022 and 2023, the population grew from 117,588 to 119,508. These residents get to experience the scenic natural views of West Palm Beach while enjoying their twilight years. Death is a natural part of life, but the grieving process is never easy for the loved ones left behind.

In Palm County, between 2019 and 2023, there were 16,500 deaths. It can be hard to face the reality of death. This taboo makes it difficult for individuals to seek life insurance policies. However, having a solid life insurance policy in place before death can ensure your loved ones are taken care of financially after you die.

The policy you choose depends on your age, health, and specific life circumstances. There are a few types of life insurance a person in Florida can choose from:

1. Term life insurance. This covers you for a set period of time, and it usually costs less than a permanent insurance policy. Many term life insurance policies allow you to convert your policy into a permanent one. This option does not require proof of good health. The new premium for a permanent policy will be based on your age at the time you make the switch.
2. Permanent whole life insurance. This type has fixed premiums that stay the same for life. It builds cash value. However, if you withdraw funds from the policy, the benefits paid out after you pass away may be reduced. Your policy may also be canceled if you do so.
3. Permanent universal life insurance. This type is more flexible than whole life insurance. You can sometimes adjust your premium payments, and the cash value may even grow enough to cover future premiums.

Common Reasons Why Life Insurance Claims Get Denied

After a loved one passes away, you’ll need to file a death claim with their life insurance company. Insurance companies are typically strict in their regulations and rules. These companies are looking for any reason to avoid payment. Any simple misstep during the claim process can be used against you. There are a few reasons why a claim may face denial from the insurance company:

1. There may be exclusions in the policy for certain causes of death. This could include suicide or illegal acts.
2. There are disputes among actual and/or potential beneficiaries. These could happen if the policyholder recently changed beneficiaries or if multiple people claim the benefits. If the insurance company can’t locate the beneficiary, it may also result in a denial.
3. The death occurred during the contestability period. This period is typically in the initial years of the policy.
4. Fraud is suspected. An insurance company may try to claim that false information was given to them so the policyholder could get a policy or lower premiums.

It’s critical to hire a life insurance lawyer to fight for your rights. The lawyers at the Law Offices of John D. Ameen, P.A., can represent your case. We can also escalate it to trial at the Main Courthouse in West Palm Beach if needed.

FAQs

What Happens If I Miss My Life Insurance Policy Payments as a West Palm Beach Retiree?

For people aged 64 or older, life insurance companies must send out a warning before canceling a policy for missed payments. After the grace period ends, life insurance laws require the company to mail a notice at least 21 days before the policy ends. Policyholders also have the right to name a secondary person to receive these notices so they don’t miss important deadlines.

What Fees Are Involved With Having a Life Insurance Policy in Florida?

All life insurance policies come with fees. These costs may include:

• Charges for managing the policy
• Investment management fees
• Penalties for ending the policy early

Life insurance payments can be a substantial amount for many to pay. It’s essential to research your company and ask detailed questions about any fees that aren’t explained upfront.

What Do I Do If I Can’t Find My Loved One’s Life Insurance Policy?

If you can’t find your loved one’s life insurance policy, there are steps you can take. Start by checking for old records, such as bank statements or cancelled checks, that may show premium payments. Ask the deceased’s bank if they had a safe deposit box with documents. You can also check with their home or auto insurance agent.

If legal issues arise, consult a West Palm Beach life insurance attorney about your options.

What Happens to Unclaimed Life Insurance Policy Funds in Florida?

Sometimes, after a loved one passes away, their life insurance policy may go unnoticed, and the benefits become unclaimed. When this happens, the insurance company will try to return the benefits to the beneficiaries. Insurance companies may find beneficiaries through improved search processes. If the company can’t locate anyone, the funds are sent to Florida’s Bureau of Unclaimed Property. Families can search the website to see if any unclaimed benefits are available for them.

Choose a Trusted Law Firm in Florida’s Legal Community

Since 1994, the Law Offices of John D. Ameen, P.A., has represented hundreds of Florida residents in their insurance dispute cases. Our team can use that knowledge and apply it to your unique situation. Contact our office today to learn how we can help you.