If you have decided to file a claim for long-term disability benefits, that means you are no longer able to work. In some instances, you may get a severance payment when you leave the company you had been working for. You will also likely sign a severance agreement. If that is the case, you should consult a disability insurance attorney before signing a severance agreement.
Can a Severance Agreement Impact My Long-Term Disability Claim?
In short, the answer is yes. Although the severance agreement is between you and your employer, it can still impact your rights to disability benefits through an employee benefit plan. This is because sometimes severance agreements will contain language that can waive your right to pursue a disability claim.
A disability insurance attorney can review the severance agreement before you sign to ensure it does not contain such language. If it does, the attorney can draft specific language to be added to the agreement to protect your rights to pursue a disability claim.
Another thing to keep in mind is that the severance payment you receive from your employer may also qualify as an offset, other income, or deductible source income under your long-term disability policy. If that is the case, that means that your disability benefit payment will be reduced by the amount of the severance payment.
Should I Consult an Attorney?
Yes, it is a good idea to consult an attorney to be sure you are protected when dealing with a severance package. It is important to do so before signing the agreement to ensure you are not waving your rights. Once the severance agreement is signed, it is unlikely that it can be changed.
Disability Insurance Companies Have Lawyers. Shouldn’t You?
Because this law firm was created to focus on disability insurance, we have developed an expertise in this complex area of the law.
Our expertise in long-term disability claims means our clients have the backing of a law firm that has:
- Attorneys who are experts in disability claims;
- Fought all major disability insurance companies and know their tactics;
- A track record of success;
- Won major disability lawsuits that created good law; and
- Recovered millions of dollars in disability benefits.
Because federal law applies to most disability insurance claims, we do not have to be located in your state to help. We help clients nationwide.
Call to get experienced disability lawyers on your side with:
- Submitting a disability insurance claim;
- Appealing a long-term disability denial;
- Negotiating a lump-sum settlement; or
- Filing a lawsuit against your disability insurance company.
Call for a free consultation with an experienced disability attorney. Pay no fees or costs unless you get paid.