Have you lost a loved one recently and been having a difficult time receiving death benefit payment from your insurance provider? If so, you are not alone. As this article in the Bloomberg report suggests thousands of families whose loved ones have died serving our country have not received their entitled benefits from their insurance companies.As an experienced attorney I have helped many families receive money owned to them by insurance companies after the death of a loved one. I have recovered hundreds of thousands of dollars on behalf of client’s who have had legitimate claims but the insurance company was delaying and prolonging the payments by seeking unnecessary documentation all to the detriment of the clients. It is highly recommended to seek an experienced attorney in dealing with recovery of insurance proceeds and death benefits as soon as a claim arises to avoid any unnecessary pitfalls.
It is reported that millions of families have been mislead by their insurers and have been issued a “checkbook” instead of their expected lump sum payout of $400,000 in the case of military death. The insurance company sends these to their insured in lieu of payment and recommends the victim take their time making a decision regarding the money and in the interim they will keep the money in an interest bearing account. What they fail to mention and can only be seen in the fine print is that the money remains in the insurance companies interest bearing account and while they make up to 4% interest the victims families are only paid 1/2%.It is believed that the top insurance companies are now sitting on billions of dollars in unpaid death benefits.A Maryland woman whose son died in Iraq and was given these “checks” expressed shock and disbelief how her own insurance company dishonored her sons memory in this way. Her “checks” were denied in Target and her local grocery store when she tried to shop there and she later realized she needed to ask permission from the insurance company to use her own money.She would have been better off putting her full amount in her own bank and earning up to 4% interest there.This is the reason why it is imperative to have an experienced attorney on your side to read all the “fine print” for you and get you the benefits you are entitled to.