Insurance is a complex field, and we reasonably rely on insurance brokers and other professionals to help us navigate different policy options. The insurance market is risky for individuals and businesses; parties seeking insurance are increasingly relying upon insurance brokers and agents to secure the policies they need. Brokers and agents are people, however, with competing interests and differing levels of competence. If you rely on an insurance broker to get you a specific policy and they fail to do so, only for you to find out years later when you (or your beneficiaries) need that coverage you thought you bought, you might find yourself in dire financial straits. Read More

The people who put their lives on the line to defend our nation and our freedoms deserve to be venerated for their dedication and sacrifices. Active-duty servicemembers and veterans are awarded a variety of benefits for their service, and with good cause. Unfortunately, utilization of these benefits does not always play out smoothly. Families of covered servicemembers are entitled to life insurance benefits when the insured party passes away, but in many cases claims are delayed for weeks or months if not flat-out denied. Read More

Life insurance policies are only valuable so long as the insured continues to keep up with premium payments, which might be set up to be paid monthly, semi-annually or annually. If those payments stop, the policy is said to lapse. Once the policy lapses, it is no longer in force, and no benefits will be paid when the (formerly) insured passes on. A lapsed whole-life policy might have built up some cash value and be worth something as part of the deceased’s estate, but a lapsed term life policy is not worth anything at all. Read More

People who experience some sort of physical or mental disability that keeps them from working, such as due to an accident or illness, might be able to get financial help from various insurance-based resources. If the accident or illness occurred on the job, the person is likely covered by workers’ compensation, which is a form of insurance that pays medical expenses and partial wage replacement benefits for short-term, long-term or even permanent disability. If the disability was not acquired in the course of employment, other forms of insurance can pay benefits to people who can no longer work. Read More