Widows and Insurance Companies

Widows and Insurance Companies can go either way.  It can go smoothly and widows get the insurance money quickly or there are delays after delays and even a refusal to pay.  If a widow is dealing with a Term Insurance Policy it will usually go smoothly.

However, if death was caused by a work accident, car accident, suicide or murder etc. then things can go bad really fast.  Don’t try to handle insurance companies on your own as your innocence can be used against you.

Keep in mind that insurance adjusters are not evil people, but they are also not your friend if the payout is in dispute.  They will be civil, polite and even caring as they talk to you about how you are doing.  Do not be fooled, they are paid by the insurance company and are gathering information that may come back to haunt you later.

It is wise to seek out the advice of an experienced attorney before speaking to anyone from an insurance company.  If insurance adjusters call you immediately after a questionable death tell them you are still trying to take it all in and that you will issue a statement once you get an attorney.

My most important tip is to never sign any type of release document provided by any insurance adjuster.  Their paper work is written up in their favor and it may not give you the settlement you deserve.  Always consult an attorney before signing anything.

I know you are in a “fog” and you are not thinking clearly, plus bills continue to come in regardless of what you are going through.  But remember that insurance companies are great at collecting premiums, but can be amazingly slow in paying out claims.  Don’t go by your neighbour’s, brother’s, son’s or father’s advice – this is one of those times when you need a professional that is experienced in dealing with insurance companies.

  1. Terri Mandelko
    | Reply

    I had a horrible time getting my husband’s term death benefit paid. What should have been a 5-7 day wait turned into a 40+ day ordeal. Thanks to a catchy little clause in the policy that gave the company a 30 day wait period in case I died before him. My husband died of an aortic aneurysm in the emergency room! Thankfully my daughter paid for her father’s cremation and my monthly bills until I was able to get a cash flow.

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