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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 […]

It’s no secret that insurance companies are happy to sell you a disability insurance policy and not at all willing to pay benefits when you suffer from a disability and need to file a claim. These companies have become experts at finding reasons to deny claims. The sad fact is that even when coverage should be clear and obvious, insurance companies dig themselves so deeply into the denial trench that many claimants are unable to receive benefits without the assistance of an attorney who focuses on resolving disability insurance claims. One question that naturally arises for many disability insurance claimants […]

Purchasing disability insurance can be a wise investment to protect yourself and your family, particularly if you’ve invested substantial time and resources in developing a professional career. However, it is important to make wise choices when selecting a policy to ensure that you get the most for your investment and that you have the protection you expect to receive. At Seltzer & Associates, we have focused on disability insurance for decades, so we have seen the problems that arise when policyholders do not understand their coverage limitations. Of course, we’ve also assisted in many situations where policyholders had the right […]

The more skills, experience, and reputation you build as a professional, the greater the impact can be if a disability suddenly prevents you from practicing your profession. You have obligations to meet. People are depending on you. An entire business may be riding on your shoulders. Your disability insurance should provide critical resources to cover your expenses while you are unable to work. But insurance companies can make it notoriously difficult to recover the benefits that should be provided under the terms of your policy. They may insist—wrongly but vehemently–that you are still able to perform critical job tasks and […]

When you own a business, your situation is like climbing to the top of a mountain. You’ve surmounted untold obstacles and reached a pinnacle of achievement. But if something goes wrong, you can fall a long, long way down. If you get injured or sick and you’re unable to practice your profession and run your business, you need to worry not only about the loss of income for your household but also the inability to pay the ongoing expenses of your business. Many professionals who own a practice purchase private disability insurance to provide income for support in this situation. […]

Having disability insurance is a great security measure to protect you against the unknowns of the future. But it is important to understand that disability insurance benefits and terms can change, and you need to be prepared for that possibility. It is important to review policy details periodically and consider speaking with an attorney who specializes in disability insurance to determine whether your coverage is adequate to meet your needs. At Seltzer & Associates, we don’t sell insurance, so we have nothing to gain by pointing out deficiencies in your coverage. We help policyholders when they need to prepare and […]