It’s no surprise that insurance companies want to make as much money as possible for their stockholders. Unfortunately, they often do so at the expense of their policyholders. This practice is all too common, especially among big insurance companies like Lincoln. If you received a Lincoln long-term disability denial, a disability lawyer at CJ Henry Law Firm PLLC can help.
Lincoln Financial, also known as Lincoln National Corp., is a multi-billion dollar company. In 2016, their revenues topped $13.8 billion. Yet, Lincoln Financial routinely tries to pad its coffers using a variety of unfair and unethical tactics.
When you purchase an insurance policy, you agree to abide by certain contractual obligations and you assume your insurance provider will do the same. Unfortunately, many companies engage in “bad faith” practices to avoid paying disability benefits.
Lincoln National Corporation is the parent company of a number of insurance and investment businesses namely Lincoln National Life Insurance Company, Lincoln Life & Annuity Company of New York, First Penn-Pacific Life Insurance Company, Lincoln Financial Distributors, and Lincoln Financial Advisors.
Under its various business units, Lincoln provides short and long-term disability insurance, to both individuals and groups of more than two million employees nationwide. Disability insurance is intended to protect policyholders who become disabled because of physical or mental illness or injuries which prevent them from performing work.
Policyholders expect insurers to act in good faith in the event they need to file a disability claim. Insurance companies like Lincoln who employ bad faith practices not only cheat policyholders, they cheat policyholders when they are the most vulnerable.
In the past, Lincoln has faced lawsuits due to its failure to pay claims in a timely manner and for being biased in their benefits determinations. In several incidents, Lincoln has been found guilty of:
Don’t let the insurance company take advantage of you and deny you the benefits you deserve.
It’s important to understand your rights and responsibilities as a policyholder and the rights and responsibilities of your insurance company. Your insurance company is required to comply with the laws governing the insurance industry and is expected to act in good faith. Your insurance provider should:
If you receive a disability denial, it must be accompanied by an explanation with the company’s reason(s) for denying your claim. A few common reasons insurance companies deny benefits include:
Regardless of the reason for your benefits denial, you have the right to appeal the company’s decision. The appeals process you use will depend on whether you receive disability insurance from your employer or if you have an individual policy. You also have the right to file an ERISA appeal even if your first appeal is denied.
It’s best to speak to an experienced disability attorney who will represent your best interests, not the insurance company’s interests.
Always keep copies of documentation related to your disability policy, disability claim, and a benefits denial. One reason for keeping copies of all documentation is to prevent the insurance company from claiming your information was not submitted or was lost.
At CJ Henry Law Firm PLLC, our goal is to ensure you’re treated fairly and understand your rights. If you received a Lincoln long-term disability denial, contact us today.