As the economy grinds slower and the only increasing numbers are jobs lost, disability insurance companies have begun circling the wagons into a tight, self-protective circle that claimants will find increasingly harder to break through, according to Jason Newfield and Justin Frankel, nationally recognized disability insurance lawyers. Click here to visit Frankel & Newfield’s web site.
“Disability insurance companies are fighting to protect their cash reserves and the claims area is the first place to shore up cash reserves. There is no downside for these companies when they delay or deny a claim, and long term disability policyholders must keep that in mind,” warns Jason Newfield, Esq.
When disability insurance companies deny or delay claims, the worst that happens to the insurance company is that a court forces them to pay the original amount to a date certain (and not into the future). For policyholders, claim delays and denials can lead to a ruined credit rating, loss of their home, bankruptcy and worse.
Disability insurance lawyers Frankel and Newfield warn claimants that understanding the claims process and the strategies used by insurance companies is critical to filing a successful disability claim.
What should policyholders do?
• Do you have the original policy? Don’t rely on the HR office or your broker.
• Read the policy and the directions for filing a claim and follow every step.
• Make a copy of everything you send, and send everything with return receipt to prove that it was sent.
• Document every telephone conversation carefully. Enlist a trustworthy friend or family member to help.
• If you have a high value policy, disability insurance companies may hire an investigator to videotape your activities. Be prepared for surveillance.
• Help is available from consultants who assist claimants through the application process and attorneys who work with claimants before, during and after claims have been filed.
• Disability insurance companies review files on an on-going basis. If you were being paid and then checks slow down or stop, your claim may be in jeopardy.