One 83-year-old Florida mobile home owner found his homeowner’s insurance policy terminated just 10 days before the hurricane season was to begin. The homeowner was in a state of disbelief and depressed about his current circumstances. Fortunately, after inquiries were made the coverage was reinstated.
Many long-term-care insurance policies do pay out. However, according to attorneys and consumer advocates there are a number of circumstances when individuals will spend a substantial amount of time trying to collect upon these policies.
The tragedy of the Susan Powell case is almost unimaginable. The wife and mother of two disappeared in 2009. Her husband, Josh, was a suspect but was never charged. Not too long after Susan’s disappearance, Josh killed himself and the couple’s two sons.
We are discussing a court decision about life insurance policy payouts under unusual circumstances. Generally, the insurance company pays the beneficiary as soon as it learns of the insured’s death. If the company cannot locate the beneficiary, it retains the payout for a set period of time before turning it over to the state. Florida has been instrumental in holding life insurance companies’ feet to the fire, so to speak, to make sure they actively search for the beneficiary.
We are discussing a court decision involving the life insurance policies of a family in Washington state. No, the case did not come out of Florida, and let’s hope nothing like it ever does. The situation is both heartbreaking and mind-boggling.
When Miami businessman Ben Novack Jr. died, his estate was worth about $10 million. He left everything to his wife, Narcy, but five years later, family members are still arguing over the will and its validity. And, the estate is worth much less, according to court documents — as little as $4 million.
An interesting and sad case crossed our desk this week. It concerns a case from outside of Florida that turned on an insurance rule that applies wherever you are: If you abide by the terms of the policy, the insurance company will consider your claim. Otherwise, the insurance company can deny the claim, and every court from the Atlantic Coast to the Pacific Coast will find the denial reasonable.
The hurricane season is around the corner, and the heavy predictions are coming in. The National Oceanic and Atmospheric Administration said this week that 2014 will see normal to below normal tropical cyclone activity in the Atlantic. The season officially runs from June 1 to November 30.
Insurance is a picky business. Insurers write policies that look generous but are, in fact, fairly narrow. For example, an insurer or agent may use the term “all peril” when referring to a homeowners policy. The average person would understand that to mean all perils: hail, famine, war, lightning, a terrorist attack and so forth. Any damage to your home caused by anything under the sun will be covered.
An insurance company has prevailed in an unusual dispute with a Florida condominium owner. The woman filed a claim with State Farm Florida Insurance Co. after an unpleasant incident in the unit above hers. Her upstairs neighbor died, and the body was not discovered for a couple of weeks. By that time, the body had decomposed to the point that the abdomen had ruptured, allowing bodily fluids to escape.
