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The Benefits Of A Lump Sum Payout When Suing A Long Term Disability Insurance Company

Posted by Kotak Law Office on April 10, 2018
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Dealing with your disability insurance company can often be a frustrating and humiliating process.  While some people can recover somewhat from disability and work again many cannot.  You rely on your disability insurance benefits to meet basic living expenses and to have some security for the future.

When you sue your disability insurance company an opportunity may arise at a mediation to settle your case and receive a fair lump sum settlement. The decision to negotiate and accept a lump sum settlement is an important one.

The benefits to negotiating a large lump sum settlement are as follows:

  • You don't have to worry about your disability insurance company denying or stopping your disability benefits again.
  • You can use the money to invest for your retirement, pay for family expenses such as education, or pay off your debts.
  • If you pass away while receiving monthly disability benefits those payments will end. Rather you can pass on your lump sum payment and its earnings to your spouse and children.
  • You get to end your relationship with your disability insurance company and eliminate the frustration and stress of dealing with them on a regular basis.

The downside of negotiating a lump sum settlement with your disability insurance company at mediation is that you will sign a full and final release and there is no going back,

KOTAK PERSONAL INJURY LAW/DISABILITY LAWYERS CAN HELP YOU
We understand that being denied disability benefits can be frustrating and devastating. Your time to fight your disability insurance company is limited. Please do not delay in calling long term disability lawyer. We have successfully sued numerous disability insurance companies including: Manulife, Sunlife, Desjardins, Great West Life, Blue Cross, AIG, SSQ, RBC, Industrial Alliance and more.
Call your trusted long term disability lawyers at 1-888-GOKOTAK or (416) 816-1500. Our consultation is free and we don't get paid until you do. We can meet you at our offices, at a coffee shop, your home or a local court house. We represent disabled people throughout Ontario including Toronto, Mississauga, Brampton, Milton, Georgetown, Orangeville, Oakville, Burlington, Hamilton, St.Catharine's, Niagara Falls, Stoney Creek, Kitchener/Waterloo, Cambridge, London, Windsor. Markham, Pickering, Oshawa, Peterborough, Keswick, Kingston Ottawa and other locations.
Disclaimer: This article is intended to supply general information to the public. We make every effort to ensure the accuracy of this information. However, as laws change quickly, the reader should always ensure the accuracy and applicability of such information with respect to their particular case. The information contained in this article cannot replace a thorough and complete review of the reader's situation by competent legal counsel who has had an opportunity to review all of the facts.
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