On Saturday, September 26th, attorneys David Daggett and Griff Shuler of Daggett Shuler Law appeared on Triad Today to talk about life insurance policies and resulting claims. They offered insight, advice, and great tips about what to do, should your life insurance claim be denied.
Each year, more than $1 billion in life insurance benefits go unclaimed. These benefits are designed by nature to cover funeral expenses, education, and to take care of the beneficiary’s future needs.
One of the major reasons that unclaimed benefits exist is denials by the insurance company. They use any technicality to deny claims, and assume that beneficiaries will not dispute the denial. Some policies are unclear as to what needs to be done to set a claim in motion, which can make for a very confusing process to claim benefits.
The time limits in which to file a claim can vary greatly. Some policies are governed by state law and other fall under federal law. Sometimes, both can apply. After a claim has been denied, your first step should be to contact a life insurance attorney immediately. Missing deadlines could determine the outcome of your claim negatively.
Attorney Griff Shuler offered some tips for those looking to purchase a life insurance policy:
- Always purchase a policy through a reputable company
- Make sure your loved ones know about the policy. Not realizing that a family member even had a policy is a contributor to unclaimed benefits.
- Tell your beneficiaries where a copy of the policy is kept. They will need that in order to file a claim.
Later in the episode, David Daggett also participated in the Roundtable discussion with Ogi Overman and Keith Grandberry. They talked about current issues, politics, and national news items. Watch the video:
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The personal injury and disability lawyers at Daggett Shuler Law represent clients throughout North Carolina. Visit our website or call 336-724-1234 for more information or a free consultation.