New York Life Insurance Claim Denied Attorney
New York is one of the top five life insurance markets in the United States, with approximately $9 billion in annual death benefit payments. New York Insurance Law imposes strict requirements on insurers and provides meaningful protections for beneficiaries facing wrongful denials.
At Kadetskaya Law Firm, LLC, we represent life insurance beneficiaries whose claims have been denied or delayed. No fees unless we recover your benefits.
Call (888) 510-2212 for a free consultation
New York Life Insurance Statistics
With approximately $9 billion in annual death benefit payments and an industry-wide 10 to 20 percent denial and delay rate, New York sees thousands of wrongful denials every year. New York Insurance Law — one of the most comprehensive insurance regulatory frameworks in the country — provides beneficiaries with powerful legal tools.
New York Lapse Law
New York Insurance Law requires insurers to provide a grace period before a life insurance policy lapses for non-payment. New York also imposes notice requirements on insurers and provides that claims must be paid within 30 days after proof of death is received. Claims not paid within this period accrue interest from the date of death.
New York Misrepresentation Standard
New York Insurance Law section 3105 provides that a misrepresentation voids a policy only if it was material — meaning the insurer would not have issued the policy or would have issued it at a higher premium had it known the truth. New York courts have also recognized that an insurer's own investigation at the time of application can prevent it from later relying on alleged misrepresentations it could have discovered.
New York Divorce and Life Insurance — Automatic Revocation
New York is among the states that automatically revoke an ex-spouse's beneficiary designation upon divorce. Under New York law, divorce revokes any revocable disposition to a former spouse in a life insurance policy, treating the former spouse as having predeceased the insured. Exceptions apply for ERISA plans and where the designation is expressly confirmed after the divorce.
New York Accidental Death Exclusions
New York courts apply a pro-beneficiary standard when interpreting insurance policy exclusions. Ambiguous exclusion language is construed against the insurer. The insurer bears the burden of proving that an exclusion clearly and unambiguously applies to the facts of the death before payment can be denied.