Life Insurance Coverage and COVID-19

If You are Having Problems Paying for Your Life Insurance Policy, or Have Fallen Behind, We Can Help Keep Your Life Insurance Coverage in Place throughout the COVID-19 period. Life Insurance Coverage and COVID-19 is an issue we can help you with!

While we hope that everything is being done to protect people in this COVID-19 crisis is effective, now is not the time to lose your life insurance coverage.  We can help you keep your life insurance coverage in place during this crisis.

  • If you unfortunately have a claim, and a life insurance company doesn’t want to pay because it says the policy was “terminated for non-payment” or late payment, or any type of payment excuse, we can help you.

Life insurance policies are very special contracts.  Because a life insurance contract is a special contract, it can only be cancelled under certain circumstances.

The Life Insurance Company has to give Special Notices before Cancelling a Life Insurance Policy.

The insured needs to be offered an opportunity for reinstatement of the life insurance policy, and–especially in California–the life insurance company has to do all of this in just the right way.

Combined with the cliff-like drop of the economy due to the COVID-19 virus, many people have their life insurance security threatened.  This isn’t right.  This isn’t just a question of the life insurance companies following the California laws and regulations to cancel a policy.

Will Life Insurance Company Premiums be Raised During the COVID-19 Crisis?

Another thing that life insurance companies have done, especially to people who were sold their policies long ago in the 1990’s and soon after, is to raise the cost of premiums too much.  Many people were told that their premium costs would “vanish” or that the life insurance policy would “pay for itself” after a few years.  This has almost never come true.  Instead, many life insurance companies have increased the premiums, year after year.

Here’s how Metlife.com recently updated their website regarding COVID-19:

“Would any additional fees be imposed if a significant number of claims were submitted as a result of a pandemic event?

For insured business, rates in effect during the current policy period would not be affected. For self-funded business or for absence administration, the terms of the applicable Administrative Service Agreement will apply.”

Too many life insurance companies made false representations about the cost of insurance over time, and what would happen to the premiums.  If the agent and the company told you the premiums would go down, or be paid by the policy, or some other financial hocus-pocus, you may have a case against the life insurance company.

A Life Insurance Company Cannot just cut-off your Policy, like a Cable Company.

A life insurance company has to follow the special rules, for such a special contract.  If the life insurance company has increased your premiums, or other add-on costs to the policy, over the years when it had promised to not do so, you may have a case against them.  Not only may you be entitled to continue the policy for years, without the payment of any more premium, but you may be entitled to a refund, or compensation for their misrepresentations to you. A “Notice of Cancellation for Non-payment” Must Be Sent By the Insurer if they intend to cancel your policy.

Get a few of your life insurance company premium statements and any letters from the life insurance company together, and get in touch with us.  We will tell you how we can help.  Sometimes, a deferral of payment is possible.  Sometimes, we can get a late reinstatement approved, without any new medical underwriting.  Watch out–if a life insurance company ever asks for medical updates, that policy is done.  No one is in the same medical condition years later, as when they were first sold the policy, and “medical underwriting” is tantamount to “we will deny you soon” when a life insurance company says it.

We have done this a lot.  We take the time to know you and your case.  We start working for you NOW.  We communicate with you, respond to your calls, are available to you.  We focus on how to win your case.  If you have a problem getting your life insurance claim paid, rescission, beneficiary disputes, or your policy has been cancelled or has other issues on it, you need to contact Life Insurance Lawyer NOW.com or life insurance justice.com.  Use the form on our site, or email us, or call (888) 997-4070 or (818) 937-0937 to speak directly to an experienced life insurance lawyer.   We are the best life insurance lawyers around, and we are real lawyers, not a lawyer referral service or “middleman”, we are here for you NOW.