Experiencing the loss of a loved one can be incredibly painful and emotionally overwhelming. Life insurance exists to provide a safety net for the beneficiaries in the event of your death.
When you purchase a life insurance policy, you’re committing to safeguard your loved ones or business. In return, you expect BMI or other insurance companies to honor its promise by paying the agreed-upon death benefits after premium payments. Families trust that they won’t face additional hardships like losing their homes or being unable to send their children to college.
But what happens when BMI or other life insurance companies don’t pay?
Unfortunately, some insurers attempt to deny claims, hoping policyholders or their families won’t challenge them. At Baron, Herskowitz, and Cohen, we stand up to these tactics, ensuring that our clients receive the benefits they deserve.
Common Tactics Insurance Companies Use to Deny Claims
Depending on the situation, bereaved families or struggling businesses may encounter one or more of the following strategies:
- Retroactive Cancellation: The insurer may argue that the policy was voided, expired, or unpaid before the policyholder’s death.
- Non-Qualifying Death: They might claim the cause of death isn’t covered, even if it seems clear-cut.
- Misrepresentation Allegations: Insurers may allege that the policyholder misrepresented essential facts on their application, attempting to void the policy.
- Delays and Red Tape: By constantly requesting more documentation or questioning the claim, insurers hope claimants will give up out of frustration.
This is far from an exhaustive list. Insurance companies often use creative tactics to deny claims, prioritizing profits over people.
Bad Faith Insurance Practices
Insurance companies are legally required to act in good faith when dealing with their customers. When they unfairly deny or delay a claim, they may be acting in bad faith. Common examples include:
- Accusing the insured of fraudulently obtaining the policy.
- Claiming the insured made a “material misstatement” on the application.
- Unreasonable delays in payment or failure to promptly investigate the cause of death.
- Making false claims that the insured caused their death intentionally.
- Retroactively revoking policies due to medical conditions.
Contestability Period Denials
During the contestability period (typically one or two years after a policy is issued), insurers may deny benefits if they find discrepancies in the application. They might claim the deceased intentionally misled them about their health or other factors.
Our Experience with Cases Against BMI Financial Group and Other Life Insurance Companies
At Baron, Herskowitz, and Cohen, we’ve seen firsthand how companies like BMI Financial Group, based in Miami, use these tactics to deny claims. BMI has denied claims for various reasons, often relying on misrepresentation and technicalities. We’ve fought back on behalf of our clients, challenging BMI’s denials and ensuring that families receive the benefits they’re entitled to.
When we take on a case, our team of experts meticulously examines every detail of the policy and claim. We work to disprove the insurer’s assertions and hold them accountable. Whether through negotiation or litigation, we are dedicated to achieving a favorable outcome for our clients.
How We Fight for You
At Baron, Herskowitz, and Cohen, we start by reviewing your case for free. If we take your case, we work on a contingency fee basis—you don’t pay unless we win. We also cover expenses like investigations or expert witnesses, and often, we can force the insurance company to cover attorney fees if we win.
Hiring us sends a strong message to your insurance company. Our reputation for relentless advocacy speaks for itself. We’ll meticulously examine every detail of your case. With us by your side, your chances of getting the benefits you deserve increase significantly.
Consult With Us
If BMI Financial Group or any other life insurance company has denied your claim, it’s crucial to seek legal advice immediately. In Florida, once a complaint is filed, insurance companies must respond to the Department of Financial Services within 20 days. The sooner you contact us, the sooner we can start the process and improve your chances of being properly compensated. We represent individuals and families across Florida in a wide range of insurance disputes. Don’t let them win—call us now for a free, no-obligation consultation.
