Depending on the situation, contractual language, and the reason for the limitation, you may be able to extend private disability insurance benefits if they are set to expire or have been discontinued. But the process requires extensive effort. Disabilities can hit professionals suddenly as the result of an accident or slowly due to the development of a chronic condition, but in either situation, there is no way of telling how long the disabling condition will continue to prevent you from working. Yet disability insurance policies often include built-in expiration dates that limit benefits to a specific period. If your disability continues to prevent […]

Many long-term disability insurance policies contain a provision that allows them to change eligibility requirements from “own occupation” coverage to “any occupation coverage after a set period of time, and that can lead to a termination of benefits. Claimants need to understand this policy transition and what to do to keep receiving benefits. Here we explain how “own occupation” coverage works, what to watch for in disability policy terms, how insurance companies evaluate claims under these standards, and steps you can take to maintain your benefits. What Does “Own Occupation” Coverage Mean? When you have “own occupation” coverage in your disability […]

It takes knowledge, perseverance, and strategic planning to succeed with a high-stakes appeal when an insurance company denies your claim for benefits under your disability insurance policy. There is considerable information available about appealing Social Security Disability Insurance denials, but the process and the laws involved are entirely different when you are dealing with private disability insurance. Professionals who have invested their lives in developing their expertise and skill rely on private disability insurance to protect them if an illness or injury prevents them from practicing their profession. But far too often, when the time comes to file a claim, […]

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 […]