If my parent passed away within the 2 year life insurance policy contestability period, how long does the insurance company have to do an investigation into the matter?

Get Legal Help Today

 Secured with SHA-256 Encryption

If my parent passed away within the 2 year life insurance policy contestability period, how long does the insurance company have to do an investigation into the matter?

Is there a time frame for them to either deny the claim or pay out?

Asked on September 17, 2013 under Insurance Law, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I am so sorry for your loss.  The insurance company has to take a reasonable time to make a determination of the claim.  What is reasonable depends on the circumstances and facts surrounding your parent's policy.  Remember that only material misrepresentations and fraud plus that the additional health consideration contributed to death then maybe they will be permitted to deny the claim. I say maybe because if they missed the condition - an oversight - in the original underwriting and they would have issued the policy but only maybe for a higher premium then you would have grounds to contest. If they have not contacted you with and information within 30 days of filing the claim I might speak with an attorney.  Good luck.

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I am so sorry for your loss.  The insurance company has to take a reasonable time to make a determination of the claim.  What is reasonable depends on the circumstances and facts surrounding your parent's policy.  Remember that only material misrepresentations and fraud plus that the additional health consideration contributed to death then maybe they will be permitted to deny the claim. I say maybe because if they missed the condition - an oversight - in the original underwriting and they would have issued the policy but only maybe for a higher premium then you would have grounds to contest. If they have not contacted you with and information within 30 days of filing the claim I might speak with an attorney.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption