Life Insurance Dispute Attorneys Helping Louisville Clients
Strong advocacy for beneficiaries of Kentucky life insurance policies
You might think that a life insurance claim is straightforward. The insured person passes away and their beneficiaries receive the proceeds from the policy, for which the deceased had been paying premiums for decades. This transaction happens for thousands of people each year, and most life insurance companies pay out on those life insurance policies. However, there are those occasions where the insurance company withholds the proceeds of an insurance policy, which is confusing for the beneficiaries and a source of much frustration and stress.
At McWherter Scott & Bobbitt, our insurance dispute attorneys fight for clients who have already suffered the devastating loss of a loved one and now feel that the insurance company is not doing the right thing. Whether your claim has been delayed, met with an unfairly low settlement offer, or outright denied, we review your policy documents and work with the insurance company to pursue the proceeds payable under the policy and any additional damages available to you.
Kentucky life insurance companies
Here is a list of a few of the life insurance companies that serve our clients in Louisville and throughout the state:
- Aetna Life Insurance
- American Family Insurance
- Federated Life Insurance
- Gerber Life Insurance
- Hartford Life Insurance
- Massachusetts Mutual Life Insurance
- Nationwide Life Insurance
- New York Life Insurance
- Northwestern Mutual Life Insurance
- Physicians Mutual Life Insurance
- Sentry Life Insurance
- Standard Life Insurance
- Unum Life Insurance
- Western and Southern Life Insurance
How does Kentucky insurance law protect my policy?
State law governs and regulates the insurance industry, and each state is responsible for protecting consumers from unscrupulous business practices. The Kentucky Department of Insurance is responsible for oversight of the insurance industry in Kentucky, and Chapter 304 of the Kentucky Revised Statutes contains the primary body of law that regulates the insurance industry, supplemented by applicable common law.
The mission of the Kentucky Department of Insurance is to “promote sound, competitive insurance markets; protect the public through effective enforcement and regulations; and empower the public through outreach and education.” The insurance department website has a form where consumers can file a complaint against an insurance company or report insurance fraud.
Additionally, the state of Kentucky has established a guaranty association, which is made up of member insurers licensed or authorized to transact covered business in the state. If a member insurer is found to be insolvent, the guaranty association may protect covered policyholders and beneficiaries, subject to statutory limits, including generally up to $300,000 in life insurance death benefits per insured life. The guaranty association is funded through assessments on member insurers and provides covered benefits subject to statutory limits.
What are exclusion clauses in life insurance policies?
Life insurance policies may not cover every cause of death. They typically have exclusion clauses, which delineate those forms of death that the policy excludes. For example, many policies may exclude death by suicide if it occurs within two years after the policy is issued. Another common issue arises if the insured dies within the policy’s two-year contestability period. During that period, the insurer may investigate the application, but the death does not by itself eliminate coverage. If you were to die jumping out of an airplane, the policy may not cover your death, and if it turns out that you died of a terminal disease and did not disclose it, your beneficiaries may not receive the proceeds of the policy.
Why did the insurance company delay or deny your life insurance claim?
Common reasons for life insurance claim delays or denials include a material misstatement in the application, a policy lapse caused by nonpayment of premiums, a death inside an exclusion, or a death occurring within the contestability period. That last one may trigger a full underwriting review — the carrier may pull the insured’s medical and pharmacy records and read them against the application. If it decides a misstatement was material, it may try to rescind the policy — refund the premiums and void it.
What happens when more than one person claims the same policy?
Beneficiary designations go stale. A divorce decree says one thing and the carrier’s file says another. A designation naming an ex-spouse was never updated. Faced with competing claims, the insurer often files an interpleader and deposits the proceeds with the court — which shifts the fight from you against the carrier to you against the other claimant.
What can an insurance dispute attorney do to help my case?
If the policy came through most private-sector employers, ERISA generally governs it, and claimants ordinarily must complete the plan’s written appeal process before suing. That appeal is where the record gets built; what you leave out, a court may never see.
Despite how complicated the language in your policy seems to be, we can review your policy and protect you from the unfair practices of an insurance company that is more concerned about profit than it is about protecting its insureds. We hold the insurance company accountable to uphold its end of the contract. Whether we settle the case or take it to trial, it is our priority to put our Louisville clients’ needs first. Always.
Schedule a consultation with a professional insurance dispute attorney serving Kentucky
McWherter Scott & Bobbitt has represented Kentucky policyholders in disputes against local and national insurers. If you were denied payment on your policy, or the insurance company is dragging its feet, we are here to help you secure what is rightfully yours. To schedule a consultation at our Louisville office, please call 731-664-1340 today or fill out our contact form for an appointment.