Insurance Litigation Support

    Coverage Disputes

    Failure to Pay or Underpayment of Claims

    Errors and Omissions of Coverage

    Life Insurance Claim Denial

    Life Settlement Lawsuits

    Stranger Owned Life Insurance (STOLI)

    Premium Financing

    Insurance and Annuity Tax and Investment issues

    419 Plans

    Section 79 Plans

Examples of negligence, bad faith, and fraud in regards to insurance
policies,insurance coverage, or insurance claims take many forms.
In terms of claims against insurance companies for failing to abide
by the provisions of their policies, either by underpaying or complete
refusal to pay, we also specialize in claims against insurance brokers
for committing errors and omissions that damage a policyholder’s ability
to collect under his existing policy.

We have experience representing and advising life insurance policy
beneficiaries in instances where the insurance company does not pay
based on an assertion that the decedent misrepresented some
information on the insurance application.

Policies and applications are often drafted with barely decipherable fine print
and ambiguous language; intended to benefit the insurance company, not the

Insurance law frequently allows interpretations of
these clauses that run contrary to common sense.

Insurance law often holds the insured legally and financially
responsible for misstatements made by the insurance broker
who sold the policy.

Author / Speaker
Lance Wallach

As Managing Director, Mr. Wallach is a member of the AICPA faculty of
teaching professionals, AICPA author, instructor and national speaker.

Named the "National Society of Accountants Speaker of the Year",
Lance Wallach has written articles for over 50 national publications.

The Stranger Originated
Insurance Cash Outlay

A commonly used program for allowing Elderly individuals to purchase life
insurance with no cash outlay with investors holding the primary interest in
the death benefit, was by the use of an
Annuity , in which finance companies
would require the borrower to purchase with loaned funds.

The Designing of Annuities

The annuity was designed to pay the premium on the policy for the life of
the insured and the interest on the loan was used to purchase the annuity.
Thus, the vast majority of the death benefit, regardless of whether death
occurred shortly after the date of policy issuance or many years later, would
go to the company financing the premiums and the annuity.


The trust would receive a small portion of the death benefit, which would be
paid to those with an insurable interest in the insured’s life, but as with the
other programs, the trust would not be required to pay any cash to acquire
the policy.

Upon information and belief, the end result of these various methods of
finance transactions for elderly individuals was that insurance companies  
were able to sell a large number of policies, at extremely high
premiums, to elderly individuals without significant expenditure.

What Insurance Companies
Won't Tell You

Insurance companies were well aware of each of the foregoing types of
financing transactions and knew full well that all of the transactions led to
the ultimate ownership of the life insurance policies passing from elderly
individuals with an insurable interest in the person insured to investors
without an insurable interest, but fully in accordance with relevant law as the
transfer would occur after the policies had been issued.

This new market for life insurance policies — the life settlement market —
was well known throughout the life insurance industry and was the subject of
a number of articles in the investment press. Furthermore, criticized by
many other life insurance companies.

Insurance Companies, Hedge
Funds and Private Equity Funds

However, some insurance companies, which did not like the idea of
insurance policies, resulted as investments with various hedge funds
and private equity funds.

Insurance Company Scams

There are a lot of complex scams involving life insurance policies.
What appears to be a good idea on paper could leave you with fewer assets
less protection, meanwhile lining the pockets of salesmen and insurance

Many people are convinced to sell their current life insurance policy in order
to pay the premium needed to "upgrade" their policy.

Thus leaving any monies you have lost, goes straight to the agent.
And your new policy may even cost you more and protect you less.

Evaluating Your Claim

If you believe that you have been the victim of life insurance sales fraud,
we can help you evaluate your claim and explore your options. We have
considerable experience handling
long-term disability and
life insurance coverage claims.

Call For Evaluation
Office of Lance Wallach
516-938-5007 or 516-935-7346

Author, Speaker, Lance Wallach, CLU, CHFC, CIMC is nationally known in
the area of Accountant, Annuity and Life Insurance. He has  worked with
the legal representation of both Plaintiffs and Defendants in cases
dealing with annuity claims and life insurance disputes.

Whether you are a plaintiff or defendant, your position will always be
strengthened and unified with Lance's knowledgeable and quick thinking,
as an addition to your team.

Having the right life insurance Expert Witness or Annuity Expert Witness
on your team  boosts credibility. Lance supports your legal team to deliver
best possible representation, ensuring you win your case.


Collecting life insurance death benefits can be a daunting task.
Unfortunately, life insurance disputes and other coverage issues often
arise for a variety of reasons; ranging from poor professional advice and
unclear application forms, to entire policies that are not fully understood
by the agent or the insured.

Lance provides expert, informative and well-documented opinion reports,
case-specific research, fact analysis, and a critique of opposing expert’s
testimony to make sure you win your case.

Get the best life insurance expert witness available to give yourself the
best chance of collecting life insurance death benefits and winning all life
insurance dispute related issues.


  • Litigation Consulting
  • Case Evaluation
  • Evidence Review and Forensic Analysis
  • Research and analysis of tax and insurance laws
  • Complaint, Petition, and Response Preparation
  • Expert Witness Testimony
  • Damage Calculations
  • Expert Declarations and Affidavits
  • Exhibits for Settlement Conference, Mediation, and Trial
  • Active Litigation: Rebuttal Witness
  • Deposition, Arbitration and Trial Testimony
  • Plan reviews, evaluations and remediation


    Term life
    Whole life
    Universal life
    Variable life
    indexed universal life
    life insurance contest
    Life settlements
    Beneficiary disputes.
    Life insurance applications.
    Life insurance claim disputes.
    Life insurance in pension plans
    412i plans.
    Irrevocable life insurance trusts
    Split dollar plans.
    Corporate owned life insurance.
    Buy Sell agreements.
    Charitable owned life insurance.
    other life insurance disputes
    Welfare benefit trusts.
    Suitability Issues.
    Insurance Sales to Seniors.
    premium financing
    viatical settlements
    Stranger Originated Insurance (STOLI)
    Other Insurance Issues including:
    Disability Insurance
    Health Insurance
    The Affordable Care Act ("Obamacare"): Health Insurance
    Coverage and Tax Issues
    Commercial Insurance, including General and Professional
    Liability Insurance
    Insurance Agent Licensing, Appointment, and Agency Issues
    Denial of Insurance Coverage
    Denial of Insurance Claims
    Insurance Policy Replacement and Modification Issues ("Churning"
    and "Twisting")
    State Insurance Regulations and Compliance

    Annuity issues including:
    fixed annuities,
    indexed annuities
    variable annuities.


Think You Know Agents & Insurance Companies?
Think Again.

If you purchased an IRC 419 Employee Welfare Benefit Plan, a captive insurance or section 79 plan, after being told the contributions were fully deductible from federal and state income taxes, only to find out that this was not the case?

Did you purchase a trust unnecessarily, funded with substantial amounts of life insurance because you were told you could build up cash value tax-free and then have use of the funds tax-free?

If you have been misled about information regarding your employee welfare benefits, you may have been the victim of
419 and 412 plan fraud.

When consumers are misled and given false information by insurance brokers, they have the right to sue the fraudulent agents and insurance company that sold the plan.

O F F I C E  o f  L A N C E   W A L L A C H  | 516-938-5007
Videos, Books &

The Offices of Lance Wallach

Insurance matters are increasingly
complex and incredibly important.  
A strong case relies on having expert

evaluation and litigation.
One needs to have a working knowledge of

insurance principles, practices,
terminology, and insurance law.

They have to be able to read and understand
every clause of an insurance policy.

It is also critical that they be highly skilled
in analyzing and understanding every

aspect of the insurance application,
which is a common lynchpin in insurance litigation.
"Lance Wallach wrote the book on Life Insurance".
Videos, Books & Articles

"Mr. Wallach, thanks so much for taking the time to talk to me today about
VEBAs. Any information you can send me would be helpful.  Hopefully, we
can work together in
the future as interest in  VEBAs increase."

-Corman G. Franklin
Office of the Assistant Secretary for Policy U.S. Department of Labor

"Thank you for providing me with this information.  
I will review it next week and, I’m sure, be in touch.  I very much appreciate
your help.

-Amanda J. Andrews
Associate Counsel, Legal Division
Arkansas Insurance Department