You have sustained injuries as a result of an accident and can no longer work. Thankfully, you have long term disability insurance to protect a portion of your income when this sort of thing happens. The insurance company has offered you a settlement, but you are not sure if you should accept. If you are in this position, please read on, then contact one of our experienced long term disability settlement attorneys to learn when you should accept a long term disability benefits settlement.
When should you accept a long term disability benefits settlement?
Insurance companies typically offer lump sum settlements because they believe, in the long run, it will save them money compared to paying you monthly benefits for the duration of your disability. Even though not all claimants are offered lump sum settlements, you should reach out to one of our long term disability insurance attorneys to discuss whether the proffered settlement meets your needs.
What to consider before accepting a settlement offer
Before you accept or decline a long term disability benefits settlements offer, you and your attorney should consider the following:
- Your age and life expectancy
- Financial security and sources of income
- Likelihood of returning to work
- Future medical expenses
- The strength of your claim
- How much of the money will actually go to you
- Whether the offer is reasonable or not
We would be remiss if we did not advise you that insurance companies do not always operate in good faith. As alluded to above, they want to pay you as little as possible. In fact, they would be more than happy to pay you nothing. You would be ill-advised to take them on by yourself.
How can a long term disability benefits attorney help you?
If nothing else, a long term disability benefits settlement attorney forces insurance companies to take you seriously. In addition, having someone well versed in the law on your side can help you negotiate a more favorable settlement agreement. Your buyout offer is not necessarily take-it-or-leave-it. With careful negotiation, you may be able to get more from your insurance company and still put an end to the ongoing hassle and scrutiny. Many of these cases linger for years; do not let yours be one of them. Let a qualified legal representative fight for you and your future. Give us a call today.
Contact our experienced nationwide firm
If you or someone you know is looking to receive long term disability benefits and needs the help of an experienced attorney, speak with our nationwide LTD attorneys today. Our firm has significant experience helping people just like you obtain or defend their long term disability benefits. Contact Walker & Hern for a free consultation.