Our New Jersey Long Term Disability Attorney Discusses How to Avoid Long-Term Disability Insurance Fraud
Disability insurance can be very useful. Statistics show that many people become disabled long-term before they reach retirement. However, disability insurance is big business, and like any other money-making venture, there are unscrupulous companies. It is very important that you work with a New Jersey long term disability attorney if you are defrauded.
When Insurance Companies Act in Bad Faith
Often insurance representatives will promise all but the moon to customers. If is worthwhile to keep in mind the old adage, “If it sounds too good to be true, it probably is.” Unfortunately, many insurance companies often either completely deny payment or write a check for far less than the policyholder believes he was entitled. This is acting in bad faith. While your New Jersey long term disability attorney can give you a more definite answer regarding whether you have been defrauded, the following are examples of how insurance companies will act in bad faith:
- They do not investigate a valid claim.
- They pay an amount substantially lower than that stated in the policy.
- They delay payments or deny them altogether, and for invalid reasons.
When you work with a long-term disability company, taking certain precautions can help guard you against being defrauded. These include:
- Make sure to research the company before signing any documents.
- Ask questions in order to make sure you understand what the company claims it will provide.
- Ask how long the benefits will last and how soon after a claim is submitted will the company begin paying out.
- Ask how much of your salary, by percentage, will be paid out in disability payments.
- Find out whether there is a waiting period after signing up before you can collect disability.
- Go over the policy with your attorney to determine whether it reflects practices standard to the industry.
- Review the policy carefully before signing.
Work with a New Jersey Long Term Disability Attorney
Disability insurance fraud is a serious problem. If you believe yourself to be the victim of insurance company bad faith, call a New Jersey long term disability attorney at Uscher, Quiat, Uscher, & Russo, P.C. today: 800-797-5575.