An Accelerated Death Benefit (ADB) allows the owner of a life insurance policy to receive a portion of their death benefit from their insurance company prior to death. In order for the policy holder to be considered for this they must be terminally ill, usually with a life expectancy of 2 years or less.
Accelerated Death Benefits are a relatively new option for policy holders to consider. A major advantage of receiving ADB for a terminally ill policy holder is to receive a portion of their death benefit in advance of their death to help cover the costs of medical care.
But what happens if you are denied this benefit from the insurance company?
Our client, a business executive, was provided life insurance coverage as an employee benefit. When he was diagnosed with terminal cancer, he attempted to collect on the policy’s accelerated death benefit but was denied by the insurance company. At Daggett Shuler, we fought hard and successfully got the insurance company to change their denial and we obtained the full amount of life insurance coverage for our client.
Having an experienced attorney by your side gave will give you the protection you need when dealing with a Life Insurance Policy denial. Securing his life insurance policy benefits early, prior to his death allowed our client to get his affairs in order early, so his family could avoid the hassle of sorting things out later.
At Daggett Shuler Law, we understand the emotional and financial impact of dealing with a claim for life insurance benefits. Our North Carolina Life Insurance attorneys have extensive experience handling these types of claims.
Dealing with the loss of a loved one is very difficult, and then having to deal with an insurance company that is denying your claim to Life Insurance Benefits makes the situation worse.
If you are a beneficiary of a life insurance policy and the benefits have been denied, or if you have a life insurance policy and your ADB benefit is being denied, call Daggett Shuler at 336-724-1234 for help. We will speak with you for free, and answer any questions you have about your Life Insurance Policy claim.
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