Lump-sum buyout from my disability insurance company

Disability Insurance
1

Hi,

I have been on partial long term disability since 2011 and on full disability since 2015 and cpp dis. since 2015. Recently my ins company sent a letter stating they will cease payments because of one specialist I seen never sent in their medical report form nor submitted his notes even though I requested several times myself. No issues from my regular Dr., nor my Physio or massage therapists or other specialists I have seen. I have several MRI reports demonstrating my injury clearly. They only are missing an update medical form and my last consult notes from an appt last month with this one dr. Earlier info from this specialist was taken from my chart with my family dr as he receives it a few months after my visits. Because of this, they are stating they are stopping payments until this dr sends in his report. I am on waitlist to see other specialists as well as scheduled for another MRI. What options are available to me? Is it even possible they can legally stop payments because of one Dr ( I have seen several over time of my disability). I am also interested in buyout option as this is extremely stressful to deal with especially now that they can just so easily close a file, or at least threaten to stop payments. Thanks for any info you can provide.

2

In the situation you describe, you would need to take legal action against the insurance company. You do this by hiring a lawyer and filing a lawsuit. Once that is done, there may be an option to reach an out of court settlement with the insurance company. This would not be a “buy-out” per se.

Buy outs can happen in situations where disability payments have been stable and consistent for years and the insurance company agrees your claim will need to be paid to age 65. In your situation, you need to appeal their decision and file a lawsuit against them if you are looking to try for a one-time settlement and payout.

I agree with you that this action seem harsh by the insurance company. There are really no limits to what they can do at this point. You have to bring a legal action against them to hold them accountable.

Please contact our office for a free consultation if you want to learn more about what is involved with negotiating a settlement with them.