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| *Loan,banking and credit>>>disability insurance |
What can you do when an Insurance Co. wont pay a disability claim, short of hiring a lawyer? First step please |
I have Dr. evaluations and have been paying for over 10 years First step is to take a long, hard and honest look at the declination and your policy. Review your policy to see how it defines "disability". Generally there are two types; "Any Occ" and "Own Occ". Any Occ (short for occupation) states you will receive benefits if you are sick or injured and cannot fulfill the material duties of any occupation for which your experience and education are appropriate. Own Occ states you will receive benefits if you are sick or injured and cannot fulfill the material duties of your occupation. An Any Occ definition gives the insurance company alot more wiggle room. They can contend that your condition does not allow you to do your occupation, but you could do jobs A, B or C, therefore you do not qualify for benefits. You will also want to double check the elimination (or waiting) period on your policy. It may simply be that the elimination period has not passed yet. If it still doesn't make sense or you feel that the insurance company is wrong, I'd speak to a lawyer. Good Luck. Added 2/24: Thanks Rich. I read your answers and often I don't bother answering the question because I've nothing more to add. You and I seem to see eye to eye on alot of things. Financial Answer Guy has a great answer for this. Got my vote. |
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