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  HAROUTUNIAN LAW OFFICE

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Life Insurance Claims Gauntlet

1/22/2019

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As the newly widowed man sat at my table, despondent over his recent loss, he poured over paperwork.  His wife of over 50 years left him a life insurance policy.  In the weeks following her death, the man notified the insurance company.  Then came the flood of documents.

Junk mail increased, focused on matters surrounding investments, and senior activities.  He suspected the insurance company sold his contact information and told others of his recent loss.   When the life insurance policy claim forms arrived, more confusion ensued.

He opened duplicative sets of policy claims, from both the insurance agency, and his wife’s former employer.  The cover letters gave claim instructions, which were inconsistent with the forms.  When the man called the company for guidance, he spent hours on hold.  One issue confounded him.  How was the company going to send him the money?

A simple question, usually.  However, together we researched, and learned something disturbing:  the company did not want to lose the portfolio money, and offered no method for a direct payment of funds.

The company required the life insurance funds be deposited into a newly created account with the life insurance company.  This account appeared harmless, but carried limitations on withdrawals.  I personally found it insulting, so we called the company.  We were told there was no option on the form to select direct payment.  We were instead instructed to “write in the margin” our desire for “payment by check”.  

The life insurance company is a major national company, whose building stands high above the Boston skyline.  I hope they read this column to hear how distasteful their claims procedure is, and how much undue stress it causes. 

Attorney James Haroutunian practices real estate law, estate planning and business matters in Billerica at 630 Boston Road. Contact him with questions at 978-671-0711, www.hlawoffice.com or email him at james@hlawoffice.com.
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