Individuals who have purchased life insurance in New York are protected by certain provisions of New York’s insurance law, so that policies cannot be canceled or payment denied for failure to pay the premiums on time without the insurance company providing adequate notice. If the proper notice is not provided, the policyholder has the benefit […]
Category Archives: Blog
When a marriage ends in divorce, the parties’ attorneys should address issues relating to life insurance to ensure the parties’ intentions are fulfilled years later when an ex-spouse dies. For example, the parties can include a provision in the divorce agreement requiring the party paying alimony and/or child support to maintain life insurance for the […]
Many employers offer their employees group life insurance coverage for which the employer pays the premiums. The benefit offered (the amount of life insurance the employee’s family would receive if she passes away) may be for a fixed dollar amount or a multiple of the employee’s salary. Employers may also offer the employee the option […]
In a case tried before Justice Francis A. Kahn III of the Supreme Court of New York, Bronx County, Trief & Olk successfully prevailed in claims brought against William Penn Life Insurance Co., recovering $3 million (plus interest) in insurance proceeds owed on the life of Jhonny Jaar. You can read the decision here. Mr. […]
Many people mistakenly assume that the cause of death might impact whether the life insurance company pays the claim for life insurance. Under most circumstances, however, the cause of death would only directly impact the life insurance company’s decision to pay the benefit owed (1) if the deceased committed suicide and (2) if the death occurred within the “look back” period, referred to as the contestability period.
Many life insurance companies have sold life insurance policies with the enticing premise that the premiums paid in the early years of the policy will accrue interest that will pay for the premiums owed in the later years.
Many employers provide employees with the option to purchase group life insurance coverage in addition to basic coverage provided by the employer and paid for by the employer.
With the advent of affordable DNA sequencing, nearly one million Americans have had their DNA tested. Yet from a life insurance standpoint, the consequences of such a decision remain unclear.
A ruling by the New York Court of Appeals has paved the way for individuals to buy life insurance policies and transfer them as investments.
Filing a life insurance claim after your loved one passes away seems like it should be a simple and quick process.