It’s no secret that insurance companies tend to react slowly, especially when it comes to claims.  And in all likelihood, if you’re having to submit an insurance claim, then you’re probably going through a horrid situation.  Having to fight for your what’s rightfully owed to you shouldn’t even be an issue, but if that’s the case, here are a few tips to help you during those dire days.

Use That Tech

The first step you want to take before submitting a claim is to utilize technological resources to your advantage.  That means using insurers’ apps, Web tools, smart-phones, and various tools to help you prepare the evidence for your claim.  By being proactive, you should hopefully be able to take a few measures towards securing your monies, or at the very least, helping yourself build a meaningful “offensive” strategy should the insurance company initially deny you.

Understand Your Policy

The devil is in the details and it’s no different with insurance policies.  Your understanding of the fine print will be advantageous in providing you the best insight into what your claim requirements will be.  It will be necessary for you to know exactly what your policy covers, the claim process, how quickly you can submit, and the manner by which damage estimation is calculated.

Knowing your rights is also essential when disputing a denial.  This information should be explicitly detailed in a policy or during discussions with an agent or with an experienced insurance attorney like Gina Millin.

In fact, it’s highly recommended to have an attorney assist you through the disputing process so that all legalities and specifics are properly explained for you.  Legal support can also mean depositions are less emotionally taxing, which is vital when providing details about an accident or values of possessions - especially when large sums are on the line.

Keep Track of Those Records

Often it seems like insurance firms are eager to receive that monthly premium, but not as willing to provide that same level of promptness during the claims processes.  That’s why it is exceedingly vital that you maintain immaculate records to provide yourself with meaningful reinforcement for those evasive insurance agents.

Make sure you maintain records of who you spoke with, as well the dates and times of these interactions.  You should also write down specifics of what was discussed.

Last, but not least, you should also consider doing a video-tour of your home to record all the valuables you have insured.  When completed, you should safeguard this video in a deposit safebox.

Don’t Give Up

The reality is that most disputes are efficiently and ethically handled by insurance companies.  But there are times that claims can go awry and situations can get a bit out of hand - it can be very frustrating.  However, it’s your responsibility to keep contact and save records of the entire process.

If you’re dealing with health insurance policies the delay may simply be a matter of providing some additional paperwork to prove the validity of the claim.

If it’s house insurance issues, every state has an insurance department that provides free services to ensure you’re getting what you are legally entitled to under your policy.

When dealing with auto policies, there’s always the ability to make a case as to why your vehicle is worth more than the appraiser estimates.

Regardless of the particular situation you may be in, you can always fight for what is rightfully yours and Millin and Millin is here to help. We want to be sure that your rights aren’t being ignored.  We’ve represented hundreds of individuals against the illegal tactics of major corporations and have helped secure the rightful benefits of individuals from a variety of situations.

So if you’re unsure of where to turn to next, contact Millin & Millin at 956.631.5600 for the guidance you need.

A startling discovery reveals that life insurance companies have secretly avoided paying out billions of dollars worth of policies to unknowing families.

April 20, 2016

With age comes a little wisdom and you begin to realize you’re not going to live forever.  Family becomes your priority and the all important life insurance policy premium finds its way into your monthly budget.

But what if that money never makes it to your family and you’re last gift ends up in the pockets of the same companies that promised you a peace of mind?

As originally reported here, dozens of life insurance companies have come under major federal scrutiny after a national task force investigation revealed that many were failing to pay unaware beneficiaries their just due.  Though the representing industry trade association known as the American Council of Life Insurers claims that “most life insurers are going well beyond what the law requires to identify policy owners who have died and left unclaimed benefits”, 25 of the most prominent life insurance agencies have agreed to pay more than $7.5 billion in back-death benefits in a series of hushed settlements.

A number of startling revelations have emerged from this nation-wide probe.  Perhaps one of the most unsettling facts is that this practice wasn’t merely used by a few rogue companies, but is rather a systematic industry-wide norm.  Even more so, investigators discovered that there hundreds of thousands of policies that have gone unpaid even so far back as the 1960’s.  Although the sheer number of unpaid policies speaks volumes on the reality of the situation, these incidents could perhaps be viewed simply as mistakes in a system to large to fully grasp.

However, the haunting truth remains that numerous companies failed to pay benefits despite having access to federal records indicating death of the policyholders or even explicit confirmation from the relatives of the deceased.  In fact, if a beneficiary failed to come forward, some companies still continued to collect premiums by drawing money from the policies’ cash reserves – draining the policy of any worth.  This method of operation could turn an investment of $20,000 over 50 years into more than a million dollars.  Taking into account all the hundreds of thousands of “small” policies that went unpaid, there are estimates that the total amount of outstanding dues ranges into the billions.

Though the damage has been done, states are beginning to initiate sweeping requirements that ensure life insurance companies will be more forthcoming with providing families their due process in securing benefits.  In Florida, for instance, laws will requires agencies to vigilantly monitor death records from the Social Security Administration to improve the prospect of a family obtaining the funds.  Unclaimed money will be handed over to the state’s Unclaimed Property Program.

If you are interested in further investigating the possibility that you are the beneficiary of an unpaid policy that is being unlawfully withheld from you, contact your local state’s Unclaimed Property Program administration department.  Also visit https://unclaimed.org/.

If you have any additional questions or simply need assistance with insurance claims and issues contact Millin & Millin at (956) 631-5600.  Our compassion, dedication, and personal attention will get you the RESULTS you deserve.