I’ve always been driven to help others find peace of mind. After graduating from Florida State University with a dual BA in International Affairs and Spanish and a minor in Business Administration, I decided to attend law school. There, while interning with one of the country’s largest firms focusing on disability insurance law, my interest was sparked.
HOW LONG DOES IT TAKE?
The lump sum is usually a single payment, but may also be disbursed in several installments. It can be offered at any stage of the claim because every claim is unique with varying sets of circumstances.
WHICH FACTORS PLAY A VITAL ROLE?
Your age and life expectancy, as well as your financial plans for the future, play crucial roles in whether you should accept the buyout.
HOW DO SETTLEMENTS VARY?
Every situation is different. Buyouts vary in terms of their taxable status, their present value, and how reasonable the offer is in general. It’s never a good idea to make these decisions on your own.
If you have a long-term disability, your disability insurance policy provides you with a monthly income, constituting a physical and emotional lifeline for you and your family.
The insurance company may offer you a one-time lump sum to ‘buy out’ your claim, ceasing the monthly payments. Consult an experienced, dedicated long-term individual disability attorney to fully grasp what is at stake in the offer.
If you’re considering a disability insurance buyout, you are probably aware of the far-reaching implications. That’s why I offer you a truly collaborative approach at every stage of the journey, working for you and with you to seek a favorable result.
When it comes to insurance companies and disability insurance buyouts, professionalism is key. From reviewing your disability policy to negotiating with your insurance company on your behalf, you need someone with experience and verve to take the helm. When it comes to your long-term health and finances, nothing is more important.
When we’re working together to seek a favorable outcome, it’s important to me to stand in your corner. Insurance companies can come off as harsh and demanding, especially when negotiation is on the table. It’s easy to get lost as just another number. I know that friendliness and courtesy go a long way to make my clients feel at ease, so I proudly strive to provide excellent, prompt, caring service to each person I work with.
In my firm, we work as a team. I started Victor Peña Law PLLC so that I could listen to your story and hear your needs, crafting realistic guidance based on your situation. My growing network of advisors, financial and legal, assist me in my client-centered approach. I am accessible nationwide for your disability insurance needs.
According to data from the U.S Census Bureau, over 19 million American adults of working age have disabilities that limit or prevent them from working. In the event that an employee or business owner becomes unable to work due to an accident, injury, or illness, disability insurance provides financial assistance to replace some of their lost income. At some point ...
The National Association of Insurance Commissioners (NAIC) creates rules to be followed by insurance companies for “statutory reserving.” Such rules provide minimum reserves that a company must hold for claims that have been reported or incurred. The 1987 Commissioners Group Disability Table (CGDT) provides specific guidance for the valuation of group LTD claim reserves although the specifics of calculations should ...
