After jumping through many hoops to satisfy your long term disability insurer – rather than focusing on your health and wellbeing – it can certainly feel like your insurer has anything but your best interest in mind. In our experience, insurers are always looking to increase their bottom line, and to avoid paying benefits. What this means is that you must arm yourself with knowledge about your policy, and be prepared to challenge unfair denials. The more you know about the benefits available to you under your plan, the easier it will be to demand that your insurer abide by the law.
Naturally, many people believe their insurer will understand the complexities and the serious nature of their illness. They believe their insurer will understand that “invisible illnesses” are in in fact painfully real. They also believe their insurer will act in good faith, providing them with the long term disability benefits to which they are entitled. Unfortunately, insurance companies too often value their profit over your health.
Many of our clients wonder, “does my long term disability insurer care about me?” The heartbreaking – but truthful – answer to this question is: probably not. What could be more important than your health? Your insurance company’s bottom line.
So, what is an insurance company’s bottom line, and why is it adversely impacting your access to disability benefits? Wendell Potter has referred to this as “the industry’s lethal bottom line,” as it has successfully preserved insurers’ profits while denying countless insureds access to healthcare and medical treatment for ages. According to The American Association for Justice (AAJ) (Tricks of the Trade: How Insurance Companies Deny, Delay, Confuse, and Refuse), while the insurance industry has trillions of dollars in assets, enjoys profits of over $30 billion per year, and pays its CEOS more than any other industry, many consumers remain either uninsured or afflicted by high premiums and consistent insurance denials. Furthermore, the AAJ article notes it is not uncommon to find insurance companies who will deny claims to boost their bottom line, insurance companies who will reward employees for denying claims, and insurance companies who will effortlessly replace employees who will not participate in unjust insurance denials. If you need help making sense of your long term disability policy, or have questions about your long term disability insurance denial, contact Kantor & Kantor for a no-cost consultation.
We understand, and we can help.
To learn more about “The Truth About Long Term Disability Insurance Denials: The Internal Workings of Insurance Companies,” see our previous blog post here.