If you spend any time on the Disability Insurance Forums, you’ll learn first-hand how badly the disability insurance companies treat their claimants, and read heartbreaking stories about women and men who simply want to be treated with honesty and decency. There are a handful of challenges that are repeated year in and year out. Let’s address some of them:
Getting a copy of your policy – For Individual Disability Policies, you really do need to have the exact policy that was in place when you signed up. This is the contract that details what you are entitled to. If the insurance company sends you a policy that was issued in 2010 and you started with the company in 2004, the policy will not be the same. Sadly, most don’t take this seriously until it’s time to file a claim. For Group Long Term Disability (LTD) Policies, the opposite is true. The contract which will govern your claim will be the policy that is in place at the time of disability, so ensure that you are able to secure a copy of the policy from the employer.
Continuing benefits after employment is terminated – a tough challenge. The problem is, once you are terminated from employment, you will be unable to file a prior claim for disability benefits. However, if you have filed a disability claim, and are terminated subsequent to the claim, your coverage should remain in full force. The insurance company may try to persuade you that this is not the case, but without knowledge of the details of the law, how will you know?
Negotiating a lump sum buy-out – a layperson trying to negotiate a lump sum buyout with an insurance company is like a small child negotiating an arms treaty with a hostile country. No matter how bright and charming the child is, it will not end well, or on any kind of favorable terms. We have worked many with professionals who were convinced that their intellectual skills would be no match for an insurance company’s employee. They were stunned to find themselves unable to navigate through a deliberately complex series of roadblocks and dead ends.
This is one project you don’t want to tackle on your own – and you don’t have to. Contact us today at 1-877-LTD-CLAIM (877-583-2524)