Claims Settlement Lawyer for employees in Alabama and Mississippi

Even if you win your appeal after being denied a long-term disability benefit claim, the battle is not necessarily over. Your disability insurer may attempt to reduce the value of future monies paid out to you by offering you a settlement or buyout. Insurers often project the amount they are scheduled to pay out over a claimant’s lifetime and offer a one-time large payment in lieu of the lifetime of payouts attendant with the constant threat of claim termination.

It may sound tempting to accept a lump-sum payment, but it may not be in your best interests. An attorney at The Martin Law Group, LLC, ERISA Case Lawyers, can advise you of your rights and options if this idea has been presented to you. Contact an Alabama claim settlement attorney to learn more in a free consultation.

Theoretically speaking, if a client is scheduled to receive $100,000 over a lifetime, an insurer may offer a buyout of $30,000 to be paid immediately. A person facing the effects of a disability can be strongly tempted to accept the large payout to put to use right away in some significant way (such as remodeling one’s home or buying a handicapped-modified van) rather than wait for a lifetime of relatively small payments.

Birmingham Long Term Disability Buyout Attorney

Claimants may also want to accept a buyout settlement because of the “bird in the hand” principle. They may worry that the insurer will find some excuse in the future to stop making payments. Accepting the $30,000 upfront can eliminate worries about that possibility.

The Martin Law Group, LLC ERISA Case Lawyers, advises clients on the factors and fairness of accepting insurance company buyout settlement offers. Our attorneys implement analysis tools that can offer clients an objective appraisal of the relative strengths to the projected lifetime payments versus a buyout settlement offer.

In addition to mathematical calculations, we also review other aspects of a case — such as the existence of surveillance or videotaped evidence of activity by the disabled person. Even if this type of evidence seems unfair, it may likely create bias with the claims adjuster, or judge down the road.

Advising Disability Claimants · From Law Offices in Alabama · Claim Settlement · Attorneys Offer Free Consultations

Each case is unique and we do not encourage you to try to draw your own conclusions or make a critical decision without legal advice. Should you accept lump sum benefits or hold out for a lifetime of smaller payments? Our trained Alabama attorneys can evaluate long-term disability buyouts. Attorneys of our law firm regularly travel to communities throughout the state, offering people statewide the advantage of a free consultation. Contact us to learn when and where you can meet with one of our attorneys at no cost.