Foresters Financial Foresters Life Insurance They denied my husband's life insurance claim! Buffalo New York

Roughly a month after I received the denial by the insurance company, I decided not to fight it. Below are the steps I took:

• The first thing I did was ask for a copy of hubby's application because I was told he checked "No" to two things he should have checked "Yes".
• Second, I received the copy within two weeks and looked it over.
• Third, I saw the insurance company was right. While he may not have personally done the checks, he had definitely signed the application.
• Fourth, I told the insurance company I wouldn't fight and asked them to send a check for the months he had paid in (which they had already told me they would do).
• Fifth, I cashed said check and gave roughly half to our son who was 30 at the time.

I almost wish I could erase where I filed this report because late hubby had lied!

Sincerely,

Shorty1

Every insurance company has a two year contestability clause- meaning that if you lie on the application or withhold information-  or if there is a discrepancy in the application in any way- then the company reserves the right to deny the claim. (Not just for suicide)

You were told at the time of the application that there was a two year waiting period- meaning that your husband had probably had some health issues that were discovered at the time of the application via underwriting. A graded policy was offered and that has an automatic two year wait- no matter what.

If the policy you recieved states this (which you say that it did in your original complaint) then you were aware and still chose to take it out in hopes that he would survive. Unfortunately- he did not, and I am very sorry for your loss.

Also- unfortunate- you do not have a case. I know this is not the news you were hoping to recieve but their right to isssue a policy with a waiting period is legal and you signed up knowing that was what the stipulations were.

On a bright note- you should have been offered your premium payments returned to you that you paid into the policy. If Im not mistaken- Foresters offers 120% of premium payment return in the event that the applicant dies within the first two years of the policy issue date.

Foresters is a reputable company and they stand by their clients. 

You have rights. You can contact the Insurance Commissioner in your State. There should be no hold on the policy.

Best to you.