Life Insurance Litigation Logo
What We Do
CALL 516-938-5007

Life Insurance Claim Denial
Failure to Pay or Underpayment of Claims
Errors and Omissions in Coverage
Coverage Disputes
Insurance Litigation
Insurance Experts
Life Settlements Lawsuit
Stranger Owned Life Insurance (Soli)
Premium Financing
Litigation Support
Expert Testimony
Insurance Expert Witness

Negligent, bad faith or fraudulent practices with respect to insurance policies, insurance coverage or insurance claims can take many forms.

We specialize in claims against insurance companies for failing to pay or underpaying in accordance
with the provisions of their policies, and in claims against insurance brokers for making errors and
omissions that damage policyholders’ abilities to collect under their existing policies. We represent
beneficiaries under life insurance policies whom insurance companies have failed to pay based on the
companies' claim that the decedent misrepresented some fact on the insurance application.

In order to properly evaluate and litigate an insurance matter, one needs to have a working knowledge
of insurance principles, practices, and terminology, in addition to insurance law. They have to be able
to read and understand every clause of an insurance policy. And it is critical that they be highly skilled
in analyzing and understanding the Insurance Application, which is often at issue in insurance litigation.

Policies and applications are often written so that the fine print is barely decipherable, and so the
language can be interpreted to benefit the insurance company, rather than the policyholder. Insurance
Law often permits interpretations of these clauses that run contrary to common sense. Insurance Law
often makes the insured and his or her family responsible for the misstatements by the broker who sold
the insurance policy.
National Office
Contact us
Managing  Director
Lance Wallach

Member of the  AICPA faculty of
teaching  professionals. AICPA author,
instructor & national speaker National
Society of Accountants.Speaker of the
Year. Writes financial  articles for over
50 national publications.
Lance Wallach Managing Director
Life Insurance and Insurance Litigation expert witness Lance
Wallach has never lost a case
Insurance Litigation
Stranger Originated Insurance Cash Outlay

A  commonly used program for allowing Elderly individuals  to purchase life insurance with no cash outlay, and with investors holding the primary interest in the death benefit, was by the use of an
annuity that a finance company would require the borrower to purchase with loaned funds. The annuity was designed to pay the premium on the policy for the life of the insured and the interest on the
loan used to purchase the annuity, and 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  was able to sell a large number of policies, at
extremely high premiums, to elderly individuals  without significant expenditure. Upon information and belief, insurance companies was 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, was the subject of a number of articles in the investment press and was criticized by many other life insurance companies – but some insurance
companies — that did not like the idea of insurance policies ending up as investments with various hedge funds and private equity funds.

There are a lot of complex scams involving life insurance policies. What looks like a good idea on paper may leave you with fewer assets and less protection, while lining the pockets of salesmen and
insurance brokers. Many people are convinced to sell their current life insurance policy in order to pay the premium needed to "upgrade" their policy. All the money you have lost goes straight to the
agent, while your new policy may even cost you more and protect you less.
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. With considerable experience handling long-term disability and
life insurance coverage claims, Lance Wallach also wrote the book on life insurance that others get CPE from. Continuing Legal
Education Videos
Expert Witness

Lance Wallach, a prominent and highly recommended life insurance expert witness and annuity expert, works with legal
representation of both Plaintiffs and Defendants in legal cases dealing with annuity claims and life insurance disputes.
Regardless of which side you represent, your position will always be strengthened and unified with a knowledgeable and quick
thinking expert on your team. Having the right life insurance expert witness or annuity expert to represent you and your case
displays a much-needed element of credibility.  Lance will work hand-in-hand with your legal team to deliver the 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
arise often and for many different reasons; ranging from bad professional advice, confusing application forms, to entire policies
that are not fully understood by the agent or the insured. Steve 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.

Areas of Lance’s Services Include:
  • Discovery requests
  • Statement of claim/answer drafting
  • Statistical analysis of risk
  • Exhibit preparation
  • Recreating investment history and historic risk profiles
  • Mediation attendance
  • Help in preparing mediation brief
  • Offering topical exhibits to educate the mediator
  • Direct testimony
  • Mid-hearing help in preparing direct and cross examination questions
  • Rebuttal testimony
  • Steve is available for immediate travel to locations and litigation venues throughout the United States to help
Areas of Lanc'es Expertise Include:

Insurance Expert Witness for all life insurance matters
including: term life, whole life, universal life, variable life and
indexed universal life as well as all matters of life insurance
disputes and life insurance contestability.
Annuity Expert for all annuity matters including: fixed annuities,
indexed annuities and variable annuities.
Suitability Issues.
Life Insurance Sales Practices.Annuity Sales Practices.
Insurance Sales to Seniors.
Market conduct issues.
All life insurance policy matters.
Life settlements.
Beneficiary disputes.
Life insurance applications.
Premium payments.
Life insurance claim disputes.
Welfare benefit trusts.
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.
Premium financing.
Have 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 you may not have needed, 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

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. With over forty years of
insurance litigation experience, attorney Guy Kornblum has the experience and resources to help you get your money back, and possibly even the taxes, interest and penalties you had to pay as well.