We don’t mean to be facetious, but as a law firm fighting with long term disability insurance companies on a daily basis, it’s hard for us to take the designation of May as the National Disability Insurance Awareness Month seriously.
Yes, disability insurance is a necessary part of any financial plan. Protecting the paycheck that keeps you and your family in your home, pays the bills and keeps the wolf at bay is an important financial planning product, and we recognize that. But a national awareness month?
Here’s what we think you should be aware of: if you become disabled and cannot work because of illness or injury, be prepared to put up an aggressive fight to protect your disability benefits. Chances are good that your first attempt at filing a disability benefit claim will be denied or delayed.
Insurance companies expect you to accept their decision – and remember, it costs the long term disability insurance company nothing to turn you down. If you fight back, they only have to call on their legal department. In most cases, there are no punitive damages or penalties for the insurance company other than to ultimately pay a claim, while they have had the use of YOUR money. Often, all they might have to do is pay you what they would have paid you in the first place. So the responsibility for defending your benefits, unfortunately, is on the individual least likely to be able to fight back – you.
If you are about to file a claim for disability insurance benefits and want to be prepared, call our office. If your claim has already been denied, and you don’t know what to do, call our office. If it seems that your claim is moving at a snail’s pace, and you suspect that the insurance company is stalling, call our office.
At Frankel & Newfield, we have focused our legal careers on fighting to defend policyholders against disability insurance companies. Give us a call. We can help.