Prudential Insurance Company Claim Denials
Prudential Insurance is the United States’ largest insurance company. The massive conglomerate insurer and financial services provider is estimated to have assets worth over $1.4 trillion, employing nearly 50,000 people. When insurers become as monolithic as Prudential has, navigating the bureaucracy when you have a claim or dispute can be maddeningly inadequate. Many individuals with Prudential life insurance or Prudential long-term disability insurance policies can testify to the drawn-out fights they were forced to endure to receive the benefits they were owed for their legitimate claims.
If you’re a Prudential Insurance policyholder who has had a life insurance or long-term disability insurance claim denied, get the help of an experienced attorney to fight for the benefits you deserve. Contact the dedicated and experienced California insurance claim denial lawyers at Gianelli & Morris for help getting the benefits you need after a serious injury or the loss of a loved one.
Prudential challenged on how it pays out life insurance claims
Prudential has faced many legal challenges in how it pays out benefits to its customers, including numerous class action lawsuits based on payment of life insurance claims. Many of these claims have centered on Prudential’s practice of using retained asset accounts to pay life insurance benefits. When a life insurance policy claim is paid using a retained asset account, the claimant demanding payment receives a checkbook that they use to draw on the benefits they’re owed under the policy, even if their policy requires that benefits be paid in “one sum.” In this way, the insurer can keep earning interest on the money owed to the claimant, even after it’s been “paid.” While this practice may be permissible in some cases, Prudential uses this retained asset approach even when it violates the law by going against the explicit terms of a given policy.
Prudential also subjects each life insurance claim to painstaking review, sometimes relying on dubious grounds to reject what is, in reality, a legitimate claim. Our bad faith insurance attorneys can help you pursue benefits when your claim is denied, helping you to get the compensation you’re owed along with potential damages from a bad faith claim if appropriate.
Long-term disability claimants face uphill climb in receiving benefits
Many Prudential insureds with long-term disability claims also struggle to get the benefits they’re owed. In one case, a Prudential insured claiming long-term disability benefits had his claim denied after suffering a serious brain injury. Despite the fact that 16 medical professionals, including 14 different doctors, had testified that the man was unable to return to gainful employment due to his injury, Prudential denied the claim based on the opinion of three doctors hired by the insurer. The man filed a lawsuit against Prudential for terminating his benefits in bad faith, and the court ruled that Prudential had committed an “abuse of discretion” in denying his claim in the face of such strong evidence of his disability.
The Los Angeles bad faith insurance lawyers at Gianelli & Morris have fought for hundreds of victims of insurance claim denials, including a federal lawsuit against Prudential based on its practices surrounding long-term disability claim denials. Our insurance denial lawyers understand the laws and policies surrounding insurance claims and have the experience and knowledge necessary to succeed in cases based on wrongful claim denials. Contact our Los Angeles offices today for help with your bad faith insurance case.
Wronged by Your Insurer? Call Gianelli & Morris for Help.
For a no-cost consultation on your California insurance bad faith claim against Prudential Insurance or another insurance provider, contact the Los Angeles offices of Gianelli & Morris at 888-836-7332.