If you are considering purchasing long term disability insurance, or have been offered a quote and are reviewing a contract, chances are there are a number of terms that are foreign to you. This is not a coincidence. Insurance contracts are notoriously confusing. Why is this? As we have noted in a number of our posts, the fewer payments an insurer has to pay out to claimants the more money they make.
If you are in the midst of seeking long term disability benefits, or are being questioned about your eligibility for such benefits, chances are that you will be asked to be examined by an independent medical examiner.
So many of our readers are ready for the weekend. Memorial Day marks the unofficial start of summer, and while some commemorate it by remembering those who lost their lives defending our freedom, others will gather with family and simply enjoy quality time together.
Advertisements are the lifeblood of American businesses. If you consider some of the most successful corporations and small businesses across the country, they all have one thing in common: they get the word out about their products and services to consumers.
Many people are dismayed when long term disability insurers essentially invent ways to deny legitimate claims. But unfortunately, initial denials are part of the twisted games that insurers play in order to convince their customers to give up on claims. While treating vulnerable consumers horribly would doom most businesses, it actually works to an insurer’s benefit. Why? Because the sum of all “ifs” work towards an insurer’s benefit.
From time to time we are asked about when is the right time to hire an attorney for assistance with long term disability claims. This is probably because they have been led to believe that a claim must be denied before a disability rights lawyer can help.
It may seem like only yesterday, but it’s been nearly 20 years since insurers began accepting fibromyalgia as a debilitating condition that would justify payment of long term disability benefits. But let’s not act like insurers had a sudden, altrusitic epiphany and decided to support claimants suffering from this condition. That would be revisionist history at its greatest. Instead, insurers fought tooth and nail to prove that those suffering from fibromyalgia were either making their conditions up or had psychological problems.
With the federal income tax deadline passing, most people won’t think about next year’s taxes until next January. But if you anticipate receiving long term disability benefits over the next 12 months, you should think about how your 2017 tax return could be affected. Essentially, knowing what benefits are considered taxable income (as opposed to tax-free) is critical for a number of reasons.
We know long term disability policies are sold on the auspice that high-earning professionals should be covered if they can’t work anymore; but they are really sold to make the insurer money. Selling the “image” of security in tough times is one of the many things insurers may not want you to know about.
If you follow our blog or have previously dealt with long term disability insurers in the past, you already understand how getting benefits can be such a frustrating process. Yes, insurers don’t really care about your pain or inability to work, but you would expect that doctors would, right?