Two Year Contestability Clause
Under Florida Statute section 627.455, every life insurance contract shall provide that the policy shall be incontestable after it has been in force during the lifetime of the insured for a period of 2 years from its date of issue. This means that as long as your premiums are current, the life insurance policy must pay out after 2 years in effect. Life insurance companies may try to delay payment or investigate if the insured died after the policy was in effect for more than 2 years, but this may violate the law.
If your life insurance company is not paying benefits, call Attorney Jason Turchin for a free consultation on your life insurance delay or life insurance dispute claim.
After the two year period, the life insurance company can deny payment for nonpayment of premiums and except, at the option of the insurer, as to provisions relative to benefits in event of disability and as to provisions which grant additional insurance specifically against death by accident or accidental means.
Nonpayment of premiums alone do not void your life insurance policy.
If your life insurance company denied your claim for nonpayment of premiums, let us review your claim. We will review the payment ledgers to make sure the life insurance company properly applied your premiums, credited your account properly, or withdrew the funds correctly. If not, you still may qualify for life insurance benefits.
Call (800) 337-7755 today for a free life insurance dispute lawyer consultation.
Florida Life Insurance Attorney - Life Insurance Claim Nonpayment