What Is Employment-Based Life Insurance?
Employment-based life insurance is a benefit that many employers offer to their employees. It provides a life insurance policy as part of the employee’s benefits package, often at no cost to the employee or for a reduced premium compared to what they might pay for an individual policy. The beneficiary of this policy is typically a family member or other designated individual who will receive the life insurance payout in the event of the employee’s death. These policies are often seen as a safety net for families in the event of a tragedy. However, understanding your rights as a beneficiary under these policies can be difficult, especially if you are unfamiliar with the process. It’s important to remember that, as a beneficiary, you are entitled to the benefits that the policy promises, and you have legal protections to ensure that the insurance company honors its obligations.The Role of the Beneficiary
As the beneficiary of an employment-based life insurance policy, you have specific rights. These rights are designed to ensure that you are treated fairly and that you receive the benefits to which you are entitled. Beneficiaries typically have the right to receive the life insurance payout, provided that the claim is valid and the policyholder has met all the necessary requirements. However, the process can be complicated by several factors, including policy disputes, denials, or delays in payment. For example, the insurance company may dispute the cause of death or argue that the policy was void due to a missed payment or other technicalities. In some cases, a company may even delay or deny payment for reasons that are not valid. It is during these times that having the assistance of a knowledgeable attorney can make all the difference.
Common Issues Beneficiaries Face
Unfortunately, not all beneficiaries receive the benefits they are entitled to under employment-based life insurance policies. There are several reasons why insurance companies may delay or deny payment. One of the most common reasons is a dispute about the validity of the claim. For example, the insurance company may argue that the cause of death is not covered under the policy or that the policyholder did not meet certain requirements. Other common issues include missed premium payments, discrepancies in the paperwork, or challenges related to the beneficiary designation. In some cases, insurance companies may attempt to take advantage of beneficiaries who are unfamiliar with the insurance policy terms. These situations can feel overwhelming and frustrating, but it’s important to know that you have the right to challenge these decisions and pursue the benefits that you deserve.
We contacted Trief, Olk & Dror to help us with a life insurance issue and Shelly Friedland was the attorney assigned to our case. Before Shelly took our case she explained to us that the likelihood of our success without going to court was possible but not likely. Unfortunately we did not get the outcome we had hoped for but it was our decision to not move forward and have our case litigated. Shelly is very knowledgeable and was very straight-forward in her assessment of our case as we moved forward. She was very patient and thorough in answering our questions. She always responded in a timely manner and listened to our concerns. We would certainly recommend Shelly and would use her firm again in the future.”
- John Ramig
If there is any possibility of winning your life insurance case – this is the place to do it for you. They are efficient, honest and will achieve the best possible outcome.
Shelly Friedland worked on my case where a life insurance policy had lapsed and was even a few days beyond the grace period. Farmers had rejected my claim twice and was unwilling to take a second look. Shelly was able to get them to pay the entire claim without going to court, and the full amount was deposited in my account within a couple months. Highest recommendation.”
- Kathleen Brown
Trief, Olk & Dror is a superior law firm. Their attorneys and other legal professionals have a brilliant understanding of the law and the litigation process. They diligently perform their work in an efficient, strategic and cost-effective manner to ensure the best possible outcomes for their clients.
- Christopher Hughes