Geoff McDonald & Associates has the largest settlement in Virginia against a life insurance company committing fraud. Geoff McDonald & Associates was a member of the legal team that recently won a $40.5 million settlement against Banner Life and related company William Penn Life Insurance of New York accused of illegally increasing premiums for 7,600 existing life insurance policyholders.
Life insurance provides financial protection for your loved ones if you die. However, sometimes the marketing for these policies is misleading or wrong and makes false promises. These policies could also have hidden costs that can result in families receiving much less compensation than they expected, leading to a financial crisis.
If you or a family member was a victim of life insurance fraud, we recommend that you retain the services of an experienced lawyer to help ensure that your interests are protected. The Richmond life insurance lawyers at Geoff McDonald & Associates are well-versed in life insurance laws that help protect policyholders and beneficiaries in the state of Virginia. CEO, President and Attorney, Geoff McDonald, is a member of the American Association for Justice and Virginia Trial Lawyers Association.
We offer a free, no-obligation consultation to help determine if you have a case and are ready to help you today.
Have some questions? Call 866-369-9051
Do I Have a Viable Case?
Cases involving life insurance fraud can be challenging to manage without legal representation as they often involve reading policy fine print and carefully evaluating whether the policy is providing promised benefits.
Our legal team will not know if you have a viable case for compensation unless we are able to review the particulars of your situation and discuss the legal options available to you.
We understand that you may have questions about the legal process and we look forward to providing the answers you need to make an informed decision. Our firm has more than 25 years of experience helping victims who have been wronged or taken advantage by other individuals or entities.
Schedule a free consultation. Ph: 866-369-9051
How Can a Lawyer Help Me?
If your life insurance policy has lapsed or your death benefits claim has been denied, it is in your best interest to have a lawyer by your side. He or she could help gather the necessary evidence to build a strong case and pursue full recovery.
If we represent you, a Richmond life insurance fraud lawyer from our firm is prepared to take many steps to pursue compensation, which may include:
- Reviewing the terms and conditions of the policy to determine coverage and exclusions
- Reviewing denial letters and correspondence from the insurance company to identify a reason for a delay or denial
- Negotiating with the insurer to obtain a payout on a life insurance policy when a dispute arises
- Filing a claim in court against the insurer for acting dishonest in delaying or denying a valid policy
- Investigating claims and allegations made by the insurer in denying a policy
And much more….
Life Insurance Fraud Cases Handled By Geoff McDonald & Associates
Our qualified Richmond life insurance fraud attorneys at Geoff McDonald & Associates are prepared to handle all kinds of life insurance fraud cases. Generally, these cases fall into two categories:
Fraud Committed By the Insurance Agent
This can happen when an insurance agent is lying, deceiving or misleading a buyer to purposely sell a policy. There are many different examples of this kind of deceptive behavior:
- Premiums going up after being told they would not change
- The agent forging your signature on an application
- Being promised benefits that were not going to be provided
Insurance agents may also request that you to send them your premium payments directly, via a check or online payment method. They then pocket the money instead of putting it towards your life insurance policy and your policy gets canceled due to lack of payment.
An agent may even try to sell you the wrong kind of life insurance policy for your age or financial situation or overstate your income so that you obtain a larger policy and they get a higher commission.
Fraud Committed By the Insurance Provider
This can happen when an insurance provider is misleading or does not disclose certain information to a buyer about the policy, such as information about premium payments or death claims.
For example, a provider could provide inaccurate information about the premium payment and the policy could lapse because fees exceed the amount of the premium. They could also provide misleading statements about when death benefits will not be paid out, such as because of a policyholder’s medical history.
Our legal team is ready to protect your legal rights and pursue any benefits owed to you. If a settlement is not possible, we are prepared to go to court to obtain compensation.
Protecting Yourself Against Life Insurance Fraud
There are several things you can do to help protect yourself against life insurance fraud, such as:
- Check the legitimacy of the insurance agent’s license
- Thoroughly read any policy before signing it
- Keep copies of your policy, including forms completed by the agent
- Do not sign a policy with blank spaces that could be filled in later
- Do not hand your policy over to someone else without knowing who they are
- Do not sign anything if you feel you are being pressured into it
Contact Our Richmond Life Insurance Fraud Lawyers Today
If you believe that you have been the victim of insurance fraud, our licensed lawyers have in-depth knowledge of federal and state laws prohibiting life insurance fraud. You may be eligible to recover compensation for the losses you have suffered due to the actions of a fraudulent agent or insurer.
Our lawyers at Geoff McDonald & Associates have many years of experience representing consumers in Virginia. We are prepared to review your situation and determine if you have a viable case. Schedule a free, no-obligation consultation to learn about your legal options.