Reinstatement gets you the policy you originally applied for without having to go through the entire application process once again. You’ll need to submit a questionnaire regarding the current state of your health, and if your health remains more or less the same, you’ll get back the rate you were paying before the lapse.... Read More »
Policy lapse due to nonpayment of premiums is one of the most common reasons for life insurance benefits to be denied. There are, however, many situations in which a policy was unlawfully terminated or inappropriately allowed to lapse. In those situations, beneficiaries may still be entitled to benefits even should the insured party pass... Read More »
Life insurance companies are notorious for allowing policies to lapse because the policyholder forgot to pay a few premiums. People become more forgetful as they age or become ill or injured, which is precisely when they need their life insurance the most. If you’re worried about your life insurance coverage lapsing, or if you’re... Read More »
The Impact of McHugh V. Protective Life Insurance Company One Year Later
Attorney Robert Gianelli was recently interviewed for an article discussing the impact of the California Supreme Court’s decision in McHugh v. Protective Life Insurance Company. That decision ruled that California Insurance Code sections 10113.71 and 10113.72, dealing with an insurance company’s obligations... Read More »
If you miss your premium payments, the life insurance company might let your policy lapse. Many people forget to make a payment or two, especially if they reach advanced age or become ill/injured; unfortunately, that’s also when circumstances are most likely to trigger the need for policy benefits. If you missed premium payments and... Read More »
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