It often takes a serious struggle to get a disability insurance provider to start paying benefits on a claim, and when they do, the claimants often wrongly assume the struggle is over. But sometimes, it’s only just beginning. When an insurance company has sent a reservation of rights letter, it may be possible for the company to change its decision. Not only will they deny the claim and stop paying benefits—but they may also demand that you pay back benefits you’ve already received. This can amount to many thousands of dollars. It is vitally important for disability insurance policyholders to: […]

When you suffer from an “invisible” disability that does not have obvious physical symptoms, you need to present substantial evidence to support your claim for long-term disability insurance benefits because your claim will be scrutinized more heavily than claims involving other types of disabilities. This is not surprising when you consider the basic premise insurers operate under—they seek to keep profits high by paying out as little as possible. It is easier for them to deny claims regarding injuries that are more difficult to document. So they deny these claims and hope that policyholders accept the results without a fight. […]

Coverage under an employer-sponsored disability insurance plan governed by ERISA can differ significantly from coverage provided by a private disability insurance policy, and these plans are enforced under separate laws. Many physicians, executives, attorneys, accountants, and other professionals know that they have some form of disability insurance, but they have not examined the details in recent memory. While both ERISA plans and individual disability insurance policies can provide a vital lifeline for professionals who have significant time and resources invested in their practice, there are differences and limitations that must be understood before professionals can choose coverage that provides the […]

Some people seem to enjoy talking about their ailments, but most professionals are just the opposite. They are used to functioning at an unusually high intellectual level, with a focus and drive that continually drive accomplishments forward at a rapid pace. There’s no room to slow down. There’s no tolerance for sub-par performance. So when professionals such as physicians, psychologists, attorneys, executives, or accountants suffer from a condition that interferes with their ability to function professionally, they don’t want to talk about it. They don’t even want to think about it. And that’s a problem. It is important to take […]

Disability is not an “all or nothing” phenomenon. If you’ve been hurt in an accident or suffered a serious illness, you might recover some, but not all, of your former abilities. While you might not be confined to your bed all day, you might not be able to put in the long days that used to be a standard part of your practice. There’s a gray area of partial disability, and it is huge. It hits professionals particularly hard, and among them, dentists are often affected the most because of the physical demands of the profession. A problem like chronic back pain […]

When you move money into your retirement investment accounts, it is easy to envision a secure and enjoyable future.  But it is difficult to get enthusiastic about the prospect of paying for disability insurance, especially long-term disability insurance. No one wants to think about a future where a physical or mental disability has such a significant impact on their life that they are unable to practice the profession that they’ve built their life around. But that future is a real possibility for professionals in every field. Statistics from a variety of sources show that approximately 20-25% of adults will suffer […]

Professionals are often surprised to learn that even though they’ve been paying premiums for years for a disability insurance policy from a respected insurance company, when the time comes to file a claim for benefits, they face a daunting uphill battle to recover a single dime. It seems reasonable to expect the insurance company to honor its obligation once you’ve provided basic medical evidence of your disability. But that is rarely the case. The medical evidence requested often requires months of testing, evaluation, and expert opinions and observations. Documentation must be meticulous. And then just when it seems like the […]

It’s supposed to be good for the environment. It’s supposed to be less expensive. It’s supposed to make life easier and information more accessible. The first two statements may be true, but the switch to digital “portals” for sharing information is not making life easier for many disability insurance policyholders who need to file a claim. While there are some advantages to handling material digitally, there is a significant potential for critical information to get lost in cyberspace. When you add the fact that disability insurance companies are increasingly relying on AI to evaluate claims, the potential for mislaid and […]

Disability insurance benefits provide a critical lifeline for professionals who are unable to continue practicing their profession due to a disability. But your benefits may not cover everything. Many people find it helpful to have additional sources of support when dealing with a disability. Professionals who are struck with a disability relatively early in their careers may find it beneficial to open a tax-advantaged ABLE account. Pennsylvania has just expanded eligibility for these accounts, so it is helpful to understand what they are and how they can be used. Achieving a Better Life Experience ABLE is an acronym for “Achieving […]

In literal terms, an insurance company cannot require a policyholder to do anything. But, as a practical matter, insurance companies often wield significant power.  We purchase insurance to protect us in times of emergency, and when an emergency occurs, we rely on the resources provided under the insurance policy to keep us in good financial condition. So, if the insurance company says we need to do something in order to receive payments, we generally try to comply. For instance, if the company that provides our disability insurance requests copies of test results and examination records from a specific date, we […]