Should I Take a Lump Sum Payout in a Long Term Disability Lawsuit?
If you are receiving long-term disability payments, the insurance company may have approached you about accepting a lump sum payout of your benefits. You may have read about lump-sum settlements and thought this might be a good option in your case. Regardless of whether the insurance company has approached you or you want to make a settlement offer to the insurance company, you need a New York
What is a Lump Sum Disability Buyout?
A lump sum
Of course, the insurance company benefits by settling for a lump sum payment because it no longer is liable for any benefits. However, some insurance companies do not offer lump sum settlements. For the companies who are willing to offer
Is a Lump Sum Long Term Disability Buyout Best for Me?
Deciding whether to accept a lump sum payment can be difficult. You want to consult with a New York
You no longer need to worry that your insurance provider will determine that you are not disabled and deny benefits.
You do not need to worry that the insurance provider could experience financial trouble, file bankruptcy, and shut its doors.
You do not need to worry about an insurance company looking over your shoulder to monitor everything you do in an attempt to prove you are no longer disabled.
You can use the money from the lump sum payment as you desire.
How Does the Insurance Company Decide Whether to Offer a Lump Sum Disability Payment?
A company may not be willing to settle your long-term disability claim if your condition is terminal. It may also not be willing to offer a buyout until after you begin receiving Social Security benefits so that it can offset the settlement. Until the company feels that it is in their best interest and they do not see any way of denying your benefits in the future, most insurance companies are not willing to settle
Consult A New York Long Term Disability Insurance Claims Lawyer Before Accepting Any Settlement Offer
To determine if a buyout of your