Insurers Take Advantage Of Wimpy Claimants. We Will Fight For You.
Disability income insurance companies are notorious for pursuing a policy of turning down apparently valid claims out of hand. They rely on the “wimp” factor. This is when you should seek the help of a disability attorney in New Jersey.
Companies have found that a substantial number of ERISA claimants won’t question an insurance company turndown. Even if it is clearly wrong, you do nothing about it.
One expects an insurance company to have a strong tendency to say “no” when asked to pay a claim. Claim payments come right out of their pocket and right off their bottom line.
So, a “no” from an ERISA disability insurance carrier is not surprising even though there are a slew of additional costs to them in defending a claim which they know they may be likely to have to pay anyway.
Why Insurers Do It
Why insurers do this may seem a mystery until one realizes – insurers do it because it saves them a lot of money.
Insurance companies depend on you to be “wimpy” about your rights. They know a meaningful percentage of you will give up the fight immediately. Many more of you will accept a lot less that you are entitled to. All because the insurance company says “no” at first.
You can bet on with certainty that insurance companies can mathematically calculate the probability of any financial result they face. They know how much, to the penny, are the legal, medical, court, and internal costs of defending a claim. They know these defense costs are substantial. So, why do they defend cases they know they will lose if pressed to a conclusion?
They do it because they have calculated the “wimp” factor – the chance that you will not pursue your claim to its legal conclusion. Only insurance companies know the percentage of valid claims that are surrendered by claimants. But even if the number is between 10% and 20% the savings are a tremendous windfall for insurance companies.
Avoiding Conflict is One of the Main Reasons
One of the main reasons you may not fight for your rights is innate “wimpiness” – you just naturally hate conflict and controversy. Some other reasons (excuses) are:
- You think, “You can’t beat “City Hall”, i.e., the big insurance company.
- You have an aversion to getting involved with a lawyer (We wonder if insurance companies have been fostering all of those “shark” jokes about lawyers). The vast majority of lawyers don’t bite, no matter what the jokes lead you to believe. If they are retained by you, they work for you and only for you and your claim.
- You find it difficult to cope with stress.
- You believe the insurance company, acted fairly and made an unprejudiced decision, even though they have every reason not to do so,
- You won’t risk spending money on legal advice without a guarantee you will win.
These are part of a whole host of reasons (excuses?) why people will not take on an insurance company. And, in that goodly number of people lies a treasure trove for insurance companies.
The “wimp” syndrome is particularly profitable to insurers in ERISA and disability income claims. Payments for these types of claims can go on for decades and cost substantial sums. Evading payment on 10% or 20% of these claims comes to a hefty amount of money saved.
Good advice to the hesitant claimant: Be fair to yourself. Before you become one of the “wimpy” herd, have a veteran ERISA insurance attorney evaluate your claim and talk with you about it in a free consultation.
Seek Advice From a Disability Attorney in New Jersey
Only after such an evaluation is it fair to yourself, (wimpy or not), to decide whether to pursue your disability claim. If you decide to pursue a claim contact a disability attorney in New Jersey right away.