How to expedite the payout of life insurance proceeds?
Question Details: My husband and I paid life insurance premiums for over 20 years. He died 5 months ago. A month later all required documents were received by the life insurance company. It has been 4 months now and I have not received any money.
You can sue the insurer for breach of contract (violating the terms of the insurance policy, which is a contract, to pay under these circumstances) and also for "breach of the implied covenant of good faith and fair dealing" (the obligation on each party to a contract to not act in such way as to deprice the other party of the benefit of the contract). A lawsuit would be the only way to move things along, if they drag their heels.
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