Private Disability Policy

Learn more about private disability and how the law offices of Herbert M. Hill can help you today. 

You may be considering securing an Insurance Policy which provides benefits in the event of your disability.  If so, there are several factors you must take into account in determining which policy is the best fit for your needs.  The starting point is to request a copy of the policy before you enroll and begin payment.  The terms and conditions must be read with a critical eye. Oftentimes, insurance companies will send you only a snapshot or a document referred to as the Summary Plan Description prior to your purchase of coverage.  However, you should demand the Policy itself, as it is that document which will govern should there be a question regarding coverage in the future.  It would be best if you had a lawyer or, at least, someone other than the insurance agent you use, review the policy.

 There are two items to keep in mind: first, you are going to need this money at a time when your capacity to earn has been radically diminished; and, second, for medical reasons, you are unlikely to be able to handle all the issues which might be presented at the time of your disability.  The time you become disabled is not the best time to learn about the particulars of your policy.  This is also true for policies provided by your employer.  Even though the terms of such a policy would not usually be negotiable, you may discover that the terms are not such that you would have the kind of coverage you may require and a private disability policy may be necessitated.

 It is appropriate to maintain a regular monthly budget for financial planning.  However, you should also have a “bare bones” budget so you know your minimum requirements.  Also, you must be certain about how the amount of your benefit entitlement is calculated under the policy.  Many policies take a credit or “offset” from other sources of income such as Social Security Disability benefits or disability pension benefits and others.

Another critical factor is the definition of disability.  Does it cover your regular occupation only?  Does the definition change after a period of time, as many policies provide?  Of importance also is how is the disability proven from a medical standpoint.  Can the insurance company require objective diagnostic testing?  What about conditions for which there is no such diagnostic testing?  Are there medical conditions that have a limited period of benefit payout?  How are pre-existing conditions handled?

 These are but a handful of the multitude of legal issues that the law office of Herbert M. Hill, P.A. has dealt with over the years.  There are many more, many of which are so obscure that you would be stunned to learn that such an issue would have anything to do with your entitlement to benefits.

Please keep in mind that the foregoing is not intended as legal advice applicable to any individual person’s unique legal situation.  Its sole purpose is to give a general idea of the existing status of the law as it applies to the point of law addressed above.  You cannot rely on the foregoing as legal advice.  You cannot make legal decisions based on its contents.  If you have questions arising out of this point of law, you should contact an attorney who routinely handles claims involving policies of disability insurance.  The law offices of Herbert M. Hill, P.A. handles such cases and would welcome the opportunity to discuss your case with you, at no charge.  You can contact us today.

 Herbert M. Hill, P.A. is a law firm located in Orlando, Florida with a practice extending throughout the state of Florida and the southeastern part of the United States, including  Georgia and Alabama.  Areas of practice include disability and employee benefit claims of all sorts.  The firm handles any claims arising under the Employee Retirement Income Security Act (known and referred to as “ERISA”) for disability benefits, medical benefits, retirement benefits of any sort, including pension, 401k, termination agreements or the like as well as claims arising under private disability policies. Contact us today for a free case evaluation. 

By |2020-08-03T13:32:42-04:00July 6th, 2020|Blog, Long Term Disability, Short Term Disability|