Can someone tell me about life insurance? This is just an example, how does the law apply??

Question

Helen obtained a policy of insurance insuring her life and naming her niece Julie as beneficiary. Helen died, and about a year later the policy was found in her house. When Julie claimed the insurance money, the insurer refused to pay on the ground that the policy required that notice of death be given to it promptly following the death. Julie claimed that she was not bound by the time limitation because she had never agreed to it, since she was not a party to the insurance contract. Is Julie entitled to recover?

Answer 1

imho, yes.

while Helen agreed to the contract stipulations, the court will likely rule that this one is void as it attempts to unjustly enrich the party who wrote the contract for no valid business reason. ["void as being against public policy"]

Julie likely won't get added interest on the policy for the time delay, however, since that wasn't the insurance company's fault but rather that of Helen's presonal representative [or whatever that state calls her/him/it] who needed to conduct a thorough search for assets.

naturally, insurance companies like to delay payments as much as possible ... you may need to warn them that they'll be liable for reasonable costs of collection as well as the death benefit and so if an attorney has to be hired to sue -- he's being paid with their money.


GL

Answer 2

Absolutely. Happens all the time. VERY frequently, claims go in YEARS after the death, because there was no knowledge of the policy at the time of death.

Which is why you should ALWAYS have a list of bank accounts, insurance policies, etc, where someone else can access them, if you kick off.

Answer 3

I would recommend one to visit this web page where onel can get quotes from the best companies: http://INSUREFOREVERYBODY.INFO/index.html?src=5YAojmqfNU741

RE :Can someone tell me about life insurance? This is just an example, how does the law apply??
Helen obtained a policy of insurance insuring her life and naming her niece Julie as beneficiary. Helen died, and about a year later the policy was found in her house. When Julie claimed the insurance money, the insurer refused to pay on the ground that the policy required that notice of death be given to it promptly following the death. Julie claimed that she was not bound by the time limitation because she had never agreed to it, since she was not a party to the insurance contract. Is Julie entitled to recover?
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