Having life insurance provides and even more importantly, families with their peace of mind that their loved ones will still be provided for even in case of their own death. Unfortunately, many people purchase life insurance without thoroughly understanding all aspects of this financial obligation, and when a loved one’s death happens, insurance companies deny the claim because they do not deem it likely that the claim would be granted. This is where a life insurance claims attorney can help you get what you rightfully deserve. Interested readers can find more information about them at Newport Beach Life Insurance Claims Attorney.
First of all, it is important to understand that the financial support which a policyholder is receiving from his or her beneficiaries will cease to exist once the claim has been denied. In the United States, this means that the financial support given by life insurance policies is non-taxable, or void. This means that no tax will be refunded to the policyholder, nor will any amount be disbursed to beneficiaries. This makes the policy void and non-reizable as regards taxation, but if the insured dies before the policy has matured, then the money paid for premiums will still be taxable. Therefore, it is important to get in touch with a qualified life insurance claims attorney to discuss all aspects of this particular situation.
A qualified life insurance claims attorney will not only help you get the money you deserve but will also make sure that your beneficiaries receive it. He or she may be required to look into the possibility of you having a will, since financial support is distributed according to the will. He or she will also need to speak to the insurance company and see if any changes can be made to the policy, or whether there is any way for you to be able to alter or add to the policy in any way. It is very important to have a qualified attorney look over everything involved in your life insurance policy, to make sure that everything is being done exactly according to what you had wanted.