Life Insurance Fraud Attorney

Have you been denied your life insurance claim? Do you suspect fraud? Most people find life insurance is the best way to secure their family’s future. It provides the financial support your loved ones need even after your death. However, since most of thelife insurance industry relies on the financial market, there’s always a risk of buying a fraudulent policy. You may lose all your money before realizing your mistake. If you or any of your loved ones have been a victim of insurance fraud, you should immediately reach out to an experienced life insurance fraud attorney. 

At Lowell “The Hammer” Stanley Law Group, we have expertise in counseling clients through various insurance disputes. Our team has experience in legal matters involving life insurance fraud, and delayed or denied claims. We also handle life insurance beneficiary disputes and help our clients secure what is rightfully theirs. 

Importance of Life Insurance for Your Loved Ones

If your family depends on you, life insurance is the best way to secure their financial future. It should be a part of any long-term financial plan for individuals with children or ailing parents. Over90 million American familiesrely on life insurance for financial protection. 

If you are the primary wage earner in your family, it’s crucial to consider their financial well-being in the event of an unexpected death. According to areportby LIMRA, approximately 44% of US families without life insurance would face significant financial hardship within six months of losing their main source of income, and 28% in one month or less. A life insurance policy provides essential financial support for your family during a time of need, ensuring their security even when you are no longer there. 

Reasons to Suspect a Life Insurance Fraud

As seasoned life insurance fraud attorneys, we understand why many individuals struggle to identify fraud. The elderly, particularly those with physical or mental challenges, are often the easiest targets for financial predators. These predators are typically insurance agents pushing unnecessary schemes or deals. They prey on society’s most vulnerable members. Here are some reasons you might suspect your life insurance policy is fraudulent:

Churning

Many fraudulent insurance agents intentionally oversell their products through misleading claims or false figures, a deceitful practice known as churning. Numerous insurance agencies employ such tactics to target existing clients whose policies are no longer profitable for the company. They attempt to persuade these customers to purchase new policies under the guise of “lower rates.”

Individuals might end up losing the full value of their original policy. Although paying less on a new policy might seem like a great deal, the scam unfolds behind the scenes. The insurance agency uses the cash value from your old policy as a loan to fund the new one. Victims often realize this too late, only when their savings are depleted and the old policy lapses. If you’ve been offered such a deal despite having an existing policy, it could be a scam. It’s crucial to contact a life insurance fraud attorney, such as The Hammer Group, immediately if you suspect churning fraud.

Wrongful Claim Denial

Many life insurance companies fail to honor their claims promises, often denying claims without legal justification. When policyholders designate a beneficiary, they expect the company to provide financial support in times of need. Unfortunately, companies frequently and wrongfully refuse to pay these claims. If you encounter such an issue, consulting an expert life insurance fraud attorney like Lowell Stanley is crucial. We can help you understand the legitimate and improper reasons for claim denial and guide you through the process.

Pocketing Premiums

Occasionally, agents may divert your policy premiums to their own accounts, resulting in policy lapses. If you’ve received notifications of non-payment from your insurer despite making timely payments, fraud could be occurring.

Forgery

Another common fraud is when someone other than the policyholder, forges the policyholder’s signatures to change the policy provisions. They may take out an additional policy without your knowledge. 

Fake Policies 

Scammers often pose as life insurance agents and sell fake policies. Never trust policies that sound too good to be true. A life insurance fraud attorney can help you identify potential frauds that offer substantial coverage at very low premiums. 

How We Can Help

Reaching out to a life insurance fraud attorney like Lowell “The Hammer” Stanley Law Group can protect you from financial loss. Insurance fraud can leave victims bankrupt. Our team of legal experts can recover your lost funds and pursue legal action against the insurance agent or the company. If you suspect life insurance fraud, contact The Hammer today. Don’t let insurance companies wrongfully deny your life insurance claims. We help Life Insurance Company Fraud victims throughout Virginia. Let us protect your family’s financial future.