Houston Disability Insurance Lawyer
Disability insurance plans are purchased to protect workers and their families in the event of a disabling injury or illness. Unforeseen events happen, and a person may suddenly find himself or herself unable to work. A Houston disability insurance lawyer knows this can cause a financial crisis due to a lack of income.
When a disabling event occurs – a car accident, work accident, or other incidents that restricts daily life, people turn to their disability insurance for assistance. Powers Law Firm has seen how insurance companies turn away claims, refusing to pay. Our disability insurance denial attorneys can help if your claim has been denied.
Types of Disability Insurance
Disability insurance is designed to reduce this hardship by paying a percentage of the disabled person’s previous income. There are several types of policies that can offer this kind of protection.
- Individual disability insurance can be purchased when your employer does not offer coverage. Different policies will cover a different variety of circumstances, with higher premiums paired with a broader range of coverage. The rates, availability, and payouts vary widely between states and companies, giving customers numerous options to fit their needs.
- High limit disability insurance is typically purchased in conjunction with a basic plan. This coverage is designed to ensure that a covered individual would receive a greater percentage of their previous pay rate. This additional income can make a huge difference to a disabled person facing a lack of income, especially on a long-term basis.
- Key-person and business overhead expense (BOE) insurance are designed to protect a company in the event that a key employee or the owner experiences a disability. For many companies, the loss of a single employee could mean a dire situation, and this coverage is intended to mitigate this risk. Business and commercial owners also use disaster insurance policies for additional coverage.
Some policies may cover only short-term disability benefits (STD) or long-term disability benefits (LTD). Some injuries may only prevent a person from working for a matter of weeks, while some may lead to years of disability. It’s important to consider what is offered by each policy when selecting coverage and when determining if benefits have been withheld.
Get Help from a Houston Disability Insurance Lawyer
When an insurance company denies a claim, it’s time for a disability insurance denial attorney to step in and help. Insurers may delay a payment or offer a lower amount than you are entitled to. This can leave the disabled party and his or her family left with no income at all and a grim future. If an insurance company acts in bad faith when handling a disability claim, legal action can be taken and compensation can be demanded.
Contact a Houston disability insurance lawyer at Powers Law Firm today for a free case evaluation.