LIFE INSURANCE ATTORNEY IN RENO

There are generally three areas of dispute in life insurance cases:

1. The first area of dispute is when the life insurance company claims the insured committed a material misrepresentation. Essentially, the life insurance company is saying that the insured omitted or misrepresented material health information when he or she applied for the insurance. The law on material misrepresentation can be very complicated. If you have insurance company alleging material misrepresentation, you should get legal advice.
2. The second area of dispute is when there is a dispute about who the insured designated as beneficiary. Generally, the insured is considered the owner of the insurance policy. He or she has the right to designate a beneficiary. Typically, the beneficiary is first designated when the insured applies for the life insurance. Generally, the insured has the right to change the beneficiary at any time and for any reason. The insured can change the beneficiary by providing the insurance company with written notice.

Sometimes, a dispute will arise concerning who the beneficiary is. The issues will be: (1) when the beneficiary was changed; and (2) whether the beneficiary change was sufficient to notify the insurance company of the insured’s intent. If you are involved in a dispute over the beneficiary to the life insurance policy, you need to get legal advice.

3. The third area of dispute concerns whether the life insurance took effect before the insured dies. A life insurance policy has an effective date. Sometimes, there are insurance policy provisions defining when the policy takes effect. If the insurance company tells you the policy was not in effect, you need to seek legal advice.

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It is important to understand that as a beneficiary you have certain rights in dealing with your life insurance company. In general, the insurance company owes you a duty of good faith and fair dealing to treat you fairly and in good faith.