Our firm has seen an increase in New York Life (“NYL”) reaching out to people whose LTD benefits were either recently terminated or are in the appeal stage about to be denied and offering a lowball settlement to end the claim. This is a tactic we have seen from different companies over the years to reduce the liability for disability claims.
NYL usually offers much less than what it would be obligated to pay should it continue to accept liability and pay LTD benefits.
It may seem appealing to get a lump sum payment and be done with NYL. But most people do not understand the consequence of taking this low offer against fighting the insurance company for the benefits they are due in the future.
Insurance companies take advantage of the claimant who may be in financial hardship due to their inability to work. NYL will offer the low settlement in exchange for letting go of the claim now and in the future. Meaning if the claimant accepts the settlement, they can no longer pursue their disability claim with that insurance company.
NYL and other insurance companies use this tactic to lessen their workload and limit their liability, ultimately saving only the company money. It is the company’s way of avoiding future appeals and paying out future benefits.
Dabdoub Law firm has fought back against these types of settlement offers and successfully obtained benefits for our clients. We know how to deal with NYL when they are trying to take advantage of a claimant.
Lawyers Specializing in Disability Insurance Claims
Because disability insurance law is complicated, it is important to get legal help from a lawyer who focuses on disability law.
As a law firm built to focus on disability insurance, our lawyers specialize in disability insurance. We spend every day working to get our clients long term disability benefits approved.
Because federal law applies to most disability insurance claims, we do not have to be located in your state to help.
If your claim for long term disability benefits was denied or being delayed by an insurance company, call us to speak with a disability insurance attorney.
We represent clients across the U.S. 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.
Contact Dabdoub Law Firmtoday at (800) 969-0488 for a free consultation with a disability attorney.