Lincoln Long-Term Disability Denials

If you have a long-term disability policy through Lincoln Financial, you’ve probably had some difficulty trying to collect on that policy. One of two things is likely to have happened. They either denied your claim outright or they’re continually asking you for more information in an attempt to delay paying you benefits.

Lincoln Long-Term Disability Denial, LTD Attorney

Here’s one thing that most people don’t know. Insurance companies don’t make the majority of their money on premiums. They make the majority of their money on investing premiums. Those investments accrue value the longer they are sitting on the market. Stalling thus becomes a means of maximizing profits. So does denying otherwise valid claims.

If you’re trying to cash in on the long-term disability policy that you’ve spent years paying into, having an attorney litigate your claim ensures that you get your money faster than you would otherwise. Those who file claims alone are low-hanging fruit to insurance companies. They bank on you not being willing to fight or being willing to settle your claim for less than it’s worth.

Robinson & Warncke has successfully helped thousands of clients get the financial security they deserve. Call us today to learn more about how we can help with a Lincoln long-term disability denial.

Unfair Claims Settlement Practices

On March 7 of 2017, the New York State Department of Financial Services announced a settlement with Lincoln Financial in which the insurance megalith was forced to pay $50.7 million to beneficiaries and a $1.5 million fine based on unfair claims settlement practices. After Lincoln Financial merged with Jefferson-Pilot, the company “lost” thousands of policies it had inherited from the merger. Despite early warning signs, Lincoln Financial did nothing to correct the situation.

Bad-Faith Denials

Under the law, every insurance company has a fiduciary duty to protect the best interests of their policyholders. Often, however, policyholders find themselves at odds with their insurance company and requiring the aid of an attorney to force the insurance company to pay up at added cost to themselves and a delay in getting their money. While the insurance company has a right to investigate the claim, it must provide a solid legal reason for denying it. When it doesn’t, it can be held liable for operating in bad faith.

Bad faith denials include instances of an insurance company:

  • Failing to fully investigate a claim;
  • Denying the claim without legal cause;
  • Stalling the process of making a decision; and
  • Failing to inform the claimant what they need to satisfy the claim.

My Claim Was Denied. Now What?

Lincoln Financial has a history of denying claims and then banking on the fact that the policyholder will not fight the denial. If this works 10% of the time they are saving themselves millions of dollars each year. Even in cases where it does work, they tell the policyholder that they can either take a settlement for a fraction of the value of the policy or they’ll fight them for years if need be. It’s a process of intimidation.

An experienced disability denial attorney can help you appeal a denied claim. To learn more about appeals, read our article Should I Handle My Own Appeal?

Contact a Long-Term Disability Denial Attorney in Atlanta, GA

At Robinson & Warncke. we have successfully litigated claims against Lincoln Financial and its subsidiary companies. Contact us today for help understanding your policy and to discuss your options.