Lumico Life Insurance claims – Beware!
Anyone with Lumico life insurance claims – Beware! Lumico has been found by the Texas Department of Insurance to not be handling death claims in compliance of state regulations, its underwriting practices (or lack thereof) are triggering questionable life insurance claim denials, and it has decided to stop selling life insurance policies altogether.
Here’s how Lumico Life Insurance Company has conducted itself since 2021.
- A 2023 audit of Lumico’s life insurance claims practices by the Texas Department of Insurance uncovered a significant number of denied life insurance claims that violated the state’s notification regulations – 42% (see).
- Specifically, “Lumico notified the claimant, in writing, of the rejection of the claim later than the 15th business day after Lumico received all items, statements, and forms required by Lumico to secure final proof of loss.”
This was only a sampling of the total claims examined by Lumico Life in the time period. Quite possibly other people who submitted claims were treated in the same way (with the same violation(s)).
Notably, Lumico has been sued in state courts in WV and SC in 2024 for wrongly (alleged) denying life insurance claims that were within the contestable period.
- In 2021 Lumico was sued, in Shelton v Lumico, for violating the Telephone Consumer Protection Act for placing robo calls to persons on the national do not call list.
Then again,
- In 2022 Lumico was sued, in Nichols v Lumico Life, for violating the Telephone Consumer Protection Act for placing robo calls to persons on the national do not call list.
And finally,
- In 2024, Lumico decided to withdraw itself from selling life insurance policies altogether.
If you’ve had a life insurance claim denied by Lumico Life contact us now to determine if you are owed the claim due to Lumico’s mishandling, misrepresentation, or mistakes.
Who Is Lumico Life Insurance Company
Lumico Life is a subsidiary of SwissRe, one of the largest insurers in the world.
The opening proclamation on the SwissRe Insurance company website reads,
“The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients.”
Denied Life Insurance Claims – Getting Insurers to Pay
DENIED CLAIMS:
We go directly to the insurance company’s legal team and negotiate your claim payment saving you a lot of money and frustration. Our experts know what information will get your denied claim paid. With the proper facts, applicable laws and documentation we can get the insurer to reconsider their denial and pay your claim.
NEW CLAIMS:
Most people know they need help going against a big life insurance company that has already denied their claim and doesn’t want to pay unless they have to. You need hard evidence and you need to know what to do with it if you’re going to get a life insurance claim paid.
We work directly with the Claims & Legal team at Lumico to make sure your claim is handled and investigated fairly and properly — and paid. We step-in and take proactive steps to prove why your claim should be paid. No other firm offers this type of service, which is why we’ve been able to get over $250 million paid-out to our clients.
What we do for our clients:
- We compare the insurers underwriting requirements to the medical records of the insured. This may not seem important because the person has already died, but one of the big issues in all claims is whether the medical history was relevant when the policy was issued. Even if someone didn’t disclose a medical condition or treatment that the insurer is challenging, it may not matter if it wasn’t significant enough to make a difference when the policy was issued. Having access to underwriting guides is vital.
- Our medical experts review medical records looking for every reason to get a claim approved and contribute their findings and opinions to our final Report sent to the insurer.
- We have our medical experts review autopsy and toxicology reports and use the information in creating their Report conclusions.
- We do drug-to-drug interaction analysis. Very important for accidental overdose claims.
- We write a formal claim opinion. What does this mean? We take all of the information we’ve gathered and we write a formal Report describing why the claim should be paid based on the analysis we’ve conducted. We rely on specific evidence and the conclusions our team identifies that support payment of the claim.
Contact us to learn how we can help you.
Appealing Denied Life Insurance Claims
When a life insurance claim gets denied many people think their only option is to sue the insurance company. But a lawsuit shouldn’t be the first thing you do. The first thing to do is have your claim evaluated by an expert and determine if you can appeal the denial without a lawsuit. This will be faster and much less expensive than a lawsuit. If an Appeal isn’t successful, then you can sue the insurer.
A life insurance Appeal starts with a new evaluation of all the facts surrounding the history of the insured, the application, medical records, arrest & driving records, accident reports and all other relevant evidence, by someone who knows what all of this evidence means. And, rather than look for reasons to deny your claim, an appeal evaluation by your own representative will look for reasons to approve your claim.
A proper appeal uses the evidence to form the reasons why the claim should be paid, is put into a report with conclusions from consulting experts and, presented to those people at the insurer who evaluate death claim appeals (it’s not the claim examiners).
We evaluate and appeal denied life insurance claims for beneficiaries. We’ve recovered over $250 million for our clients from declined claims and we can do the same for you. As your representative we’ll protect your interests, not the insurers, and we’ll get your claim paid.
If your Lumico Life insurance claim was denied you have a few options:
- Do your own appeal.
- Hire a lawyer and have him/her fight it out in Court. Your cost: 33.3% of the final settlement.
- Hire The Center for Life Insurance Disputes to deal directly with the insurance company. Your cost 10%.
Our Experience Gets Your Claim Paid Quickly
Lumico life claims can be denied for a long list of reasons; medical answers, financial information, and criminal history are some of the more common reasons. We’ve worked on many of these claim situations and we’ve gotten millions of dollars paid to our clients even after their life insurance claims were denied. Just because a Lumico Life insurance claim was denied doesn’t mean that the matter is finished. If new information is found the claim can be appealed and paid. That’s where we make results happen for our clients.
For an even more detailed discussion read our article: Six Reasons Your Contestable Life Insurance Claim Might Not be Contestable.
Lapsed Life Insurance & Denied Claims
Another reason that Lumico Life Insurance claims get denied is when a policy lapses before the death. In our 30+ years of experience we’ve worked on many lapsed policy claims and we’ve gotten many of these claims paid. Anything is possible as to what leads to a claim denial. Therefore, everything needs to be investigated.
No Retainer Required
When we take on a new client we investigate everything that’s important to the claim. This includes the events of the application, the medical history, the way the claim was handled by the insurer, and many, many other important facts. This is the best way to get denied life insurance claims overturned and paid. We prove why your claim should be paid. That’s why our clients always get a 100% payment of their claim. No settlements of 50% or 75%. Our clients get all of their money.
Free Consultation
We’re the premier life insurance claim firm for anyone whose claim has been wrongly denied or for those beneficiaries being strung along waiting for their claim to be paid. Aggressive representation by experienced professionals who only represent life insurance beneficiaries. That’s us. Whether Lumico, Accordia or any other life insurance claim denial… we can get your claim paid.
1-888-428-4868
Read:
How to Appeal Denied Life Insurance Claims and Win!