​Facing a denial of long term disability (LTD) benefits can be a devastating blow, especially when you're already dealing with the challenges of a disability. The financial strain, coupled with the emotional toll, can feel overwhelming. Unfortunately, this scenario is not uncommon. Disability Insurance companies often deny claims as a tactic to save money, leveraging an unfair advantage over those who are already vulnerable. At Iacobelli Law Firm, we understand these dynamics and are committed to fighting for your rights without adding to your financial burden.

The Impact of Denied Long Term Disability Benefits
When your LTD benefits are denied, the financial consequences can be severe. Without the income replacement that these benefits provide, you may struggle to cover basic living expenses, medical bills, and other necessary costs. This financial hardship can lead to:

• Increased Debt: Many people turn to credit cards or loans to make ends meet, leading to mounting debt and financial instability.
• Loss of Assets: In severe cases, individuals may have to sell their homes, vehicles, or other assets to stay afloat.
• Emotional Stress: The anxiety and stress of financial insecurity can exacerbate your health condition, creating a vicious cycle that hinders your recovery.

Insurance Companies’ Tactics
Insurance companies are in the business of making profits, and one of their strategies to protect their bottom line is to deny or delay legitimate claims. They may use various tactics, such as:

• Challenging Medical Evidence: They might argue that your medical evidence is insufficient or not convincing enough to support your claim.
• Misinterpreting Policy Terms: Insurers can interpret the terms and conditions of your policy in a way that favors them, leading to unjust denials.
• Delaying Claims: By dragging out the process, they hope claimants will give up out of frustration or financial necessity.

These tactics are designed to create leverage and push claimants into accepting less than they deserve, or abandoning their claims altogether.

How Iacobelli Law Firm Can Help
At Iacobelli Law Firm, we are dedicated to holding insurance companies accountable for their actions. Our experienced LTD lawyers are well-versed in the tactics used by insurers and are prepared to fight for your rights. Here’s how we can help:

• No Upfront Costs – Contingency Fee Basis

We understand that the last thing you need during this difficult time is additional financial stress. That's why we work on a contingency fee basis. This means you pay nothing unless we win your case. Our fees are only collected as a percentage of the compensation we secure for you, allowing you to access top legal representation without worrying about upfront costs.

• Comprehensive Legal Support

Our team will thoroughly review your case, gather all necessary medical and vocational evidence, and develop a strong legal strategy to support your claim. Whether you are filing an initial claim or appealing a denial, we are here to provide the expert guidance you need.

• Results-Driven Advocacy

We are not afraid to take on insurance companies and challenge their unfair practices. Our goal is to secure the full benefits you are entitled to, and we will negotiate aggressively on your behalf. If necessary, we are prepared to take your case to court to ensure justice is served.

• Compassionate Advocacy

We recognize the emotional and financial toll of a disability and a denied claim. Our lawyers provide compassionate and personalized support, treating each case with the care and attention it deserves.

A denial of long term disability benefits can create significant financial hardship and is often a tactic used by insurance companies to save money. At Iacobelli Law Firm, we understand these challenges and are committed to fighting for your rights. By working on a contingency fee basis, we ensure you can access top legal representation without upfront costs. Let us help you hold insurance companies accountable and secure the benefits you deserve. Contact us today for a free consultation and take the first step towards justice.

Andrew Iacobelli is an experienced personal injury lawyer who established Iacobelli Law Firm with offices located in Ontario, Canada and Florida, U.S.A. Andrew restricts his practice to the representation of personal injury victims in claims involving serious injuries, Catastrophic Injuries, and wrongful death in Canada and the United States.  Andrew is a lifetime member of the Million Dollar Advocates Forum, and  the author of "Are You a Canadian Injured in the United States? Claim the Damages and Insurance Coverage the Right Way". Andrew also hosts a popular podcast and YouTube channel on the subject of personal injury law and the rights of injury victims. 

Long-term disability (LTD) insurance provides financial support to individuals who are unable to work due to a serious illness or injury. At Iacobelli Law Firm, we frequently receive inquiries about the intricacies of LTD claims, particularly regarding lump sum buyouts. In this blog post, we'll delve into the key aspects of LTD claims and the potential benefits and drawbacks of opting for a lump sum buyout.

What is a Long-Term Disability Claim?
A long-term disability claim is a request for financial assistance made by an individual who cannot work due to a debilitating medical condition. These claims are typically filed with an insurance company that provides LTD coverage, either through an employer-sponsored plan or a privately purchased policy.

The process of filing an LTD claim involves submitting medical evidence of the disability, demonstrating how it impairs the ability to work, and proving that the condition meets the policy's definition of disability. Once approved, the claimant receives monthly benefits to replace a portion of their lost income.

Lump Sum Buyouts Explained
A lump sum buyout is an offer made by an insurance company to settle an LTD claim with a one-time payment rather than ongoing monthly benefits. This option can be appealing for several reasons, but it also requires careful consideration of various factors.

Advantages of Lump Sum Buyouts

• Financial Flexibility: A lump sum provides immediate access to a substantial amount of money, which can be used for various purposes such as paying off debt, investing, or covering large expenses.
• Control Over Finances: Receiving a lump sum allows claimants to manage their finances independently, without relying on monthly payments from the insurance company.
• Closure: Accepting a lump sum buyout can bring a sense of closure, eliminating the need for ongoing interactions with the insurance company and potential disputes over continued eligibility for benefits.

Disadvantages of Lump Sum Buyouts
Potential Underpayment: Insurance companies may offer a buyout that is less than the total value of the future monthly benefits. It's crucial to carefully evaluate the offer to ensure it is fair.

• Financial Management Risks: With a large sum of money comes the responsibility of managing it wisely. Poor financial decisions or unexpected expenses can deplete the funds faster than anticipated.
• Tax Implications: Depending on your jurisdiction, a lump sum payment may have different tax implications compared to monthly benefits. It's important to consult with a tax advisor to understand the potential impact.

Considerations Before Accepting a Lump Sum Buyout
Assess Your Financial Situation: Consider your current and future financial needs, including medical expenses, living costs, and long-term financial goals.

Evaluate the Offer: Compare the lump sum offer to the total value of your remaining monthly benefits. It may be helpful to consult with a financial advisor or an attorney who specializes in disability claims to ensure the offer is fair.

Understand the Terms: Carefully review the terms of the buyout offer, including any conditions or waivers that may affect your rights.

Seek Professional Advice: Consulting with professionals who have experience in LTD claims and lump sum buyouts can provide valuable insights and help you make an informed decision.

Deciding whether to accept a lump sum buyout for your long-term disability claim is a significant decision that should not be taken lightly. At Iacobelli Law Firm, we are committed to helping our clients navigate the complexities of LTD claims and make decisions that best serve their interests. If you have questions about your LTD claim or need assistance evaluating a lump sum buyout offer, please don't hesitate to contact us.

If you have any further questions or need personalized advice regarding your LTD claim or lump sum buyout, feel free to reach out to our team. We're here to support you every step of the way.

Andrew Iacobelli is an experienced personal injury lawyer who established Iacobelli Law Firm with offices located in Ontario, Canada and Florida, U.S.A. Andrew restricts his practice to the representation of personal injury victims in claims involving serious injuries and wrongful death in Canada and the United States.  Andrew is the author of "Are You a Canadian Injured in the United States? Claim the Damages and Insurance Coverage the Right Way". ​

The Disability Insurance company has denied your claim, and they have told you that you can appeal the decision: What do You Do Now?  Unfortunately, the so-called "Appeal" is with the same disability insurance company that has already denied your claim on the first go.  This really is not much of an appeal process, as you will not have an independent adjudicator reviewing the file and determining whether the Disability Insurance company acted appropriately or not.  In our experience, when a person is denied disability benefits, the decision is rarely overturned where the person attempts an appeal on their own.  Disability insurance companies are experienced in reviewing claims and determining those circumstances where a claim may be denied.  The denial of claims saves thousands of dollars for the Disability insurance company.  Those applying for disability benefits may feel that their claim has merit, and they are genuinely disabled and unable to continue working.  Unfortunately, this is not always enough to be successful in a disability claim.  That is why an appeal of the denial, without more, is rarely successful.  

At its core, the disability claim is seeking to enforce a contract.  In exchange for premiums paid on the policy, the Disability Insurance company has promised to pay benefits where specific conditions are met.  It is all in the details of the policy.  In order to be successful, you must be familiar with the terms of the policy and the conditions upon which the insurer is responsible to pay. That is why a disability insurance claims lawyer can be so helpful in the process.  We can review the circumstances of your disability, and look carefully at the terms of your contract to assess the strength of your claim.  With the right guidance and information, our experience has been that claimants are ultimately paid for their disability claim.  Of course, every case and circumstance is different and that is why it is important to have a lawyer look at the particular details of your claim.  

To learn more about your rights following a denied Long Term Disability claim, or for a FREE CONSULTATION with a disability claims lawyer call us at 416-900-1070.  We help with disability claims throughout Ontario.  

In the context of a disability insurance policy, the term "total disability" usually does not mean that the person is completely incapable of carrying on a normal life.  Although insurance companies will often stress the significance of totally disabled, the test is not as restrictive as they may have you believe.  Instead, a total disability refers to the person's ability to engage in the essential or important tasks of employment or occupation.  In disability insurance policies, total disability will depend on the contract definitions. 

Often, in the first two years following the onset of a disability, the test for total disability may focus on the person's ability to perform the duties of their own job.  The test for total disability may be met if the person is unable to perform the important or essential parts of their own occupation. 

Following the first two years, the test may change to be more restrictive.  Often, to obtain disability benefits beyond two years, a total disability may be established where the person is unable to work in any occupation for which they are suited by education, training or experience.  

There are many court decisions interpreting the meaning of a total disability for a person's own occupation and any occupation.  If an insurance company has declined disability benefits, you should consult with a lawyer about your rights.  Iacobelli Law Firm may be able to assist you in recovering disability benefits if you have been unfairly denied benefits.  For a FREE, no obligation, Consultation call us 24/7 at 1-866-234-6093 or complete our online contact form here.  

Dealing with insurance companies can be frustrating.  This is particularly true when you are also dealing with the loss of a loved one.  Life insurance policies are often purchased by individuals in order to provide financial security for their loved ones in the event of untimely death. Life insurance is supposed to give peace of mind. Sometimes, however, life insurance companies delay or deny payment on valid claims. 

In Ontario, life insurance providers sometimes deny benefits on the basis that the deceased made misrepresentations in the application for insurance. In particular, when a person dies within two (2) years of purchasing a life insurance policy, the insurance company may investigate to determine whether the application for insurance was accurate and truthful. The life insurer will review medical records of the deceased and look for any inconsistences between the medical records and application for insurance. Although an insurer may argue that just about any inconsistency voids the insurance policy, this may not be the case. 

If a life insurance company has denied the policy and refunded the premium, you should immediately contact an Ontario insurance lawyer for an opinion. An Ontario lawyer with expertise in insurance law can review the life insurance policy and provide you with an opinion about your rights. There are deadlines in insurance law and, as such, the wait-and-see approach can be detrimental to your rights. 

Iacobelli Law Firm recently recovered on a life insurance policy that had been denied by the insurer, on the basis that the deceased had made misrepresentations in her life insurance application.  The life insurance company investigated the deceased's application and medical records for more than 2 years before finally denying the claim.  With the assistance of our firm, the life insurance company agreed to pay the entirety of the life insurance proceeds plus additional money for interest and costs. 

If an insurance company is leading you on, delaying or denying your insurance claim, contact Iacobelli Law Firm for a free consultation. 

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