If insurers can save a few bucks, “they’re gonna do it.”
That is a bottom-line assertion that emerges from a recent discussion on the progressive talk radio program Ring of Fire. The subject matter emphasized by show commentators spotlighted the common practice of major insurers to delay or deny benefits to long-term disability claimants from a strict cost-benefit perspective.
How prevalent is long-term disability claim denial?
The answer to how common it is for insurance companies to play hard ball with LTD claimants will likely not surprise many people. Insured individuals rationally know that their best interests are not closely aligned with those of their insurer. For the latter, an optimal claim outcome is marked by a “closed file” stamp and no outflow of benefits. Insurers’ business models depend on keeping the lid on company coffers, not on paying out claims.
Even legitimate long-term disability claims. Insurers know that they can often go to great – and flatly questionable – lengths to avoid payouts without repercussions, provided they are not sufficiently called out on their conduct.
How can an LTD claimant best challenge coverage denial?
The Ring of Fire piece has a quick and unequivocal response concerning how an individual should respond to an insurer’s procrastinating behavior or outright claim denial.
To wit: Timely enlist the help of a lawyer.
And not just any attorney. Where an insurance claim dispute exists, a claimant is optimally served by a seasoned legal team that specializes in insurance law and advocates solely on behalf of disabled individuals fighting for their just benefits.
A proven pro-claimant ERISA law firm with a national record of demonstrated client advocacy can provide further information.