CIGNA
Disability Claim Forms
- CIGNA DISABILITY QUESTIONNAIRE DAILY ACTIVITIES
- California Settlement Agreement
Disability Claim Cases Involving CIGNA
CIGNA (NYSE: CI) generally only sells long-term disability insurance plans to trade associations, professional associations, unions and affinity groups. The CIGNA disability policies usually do not cover monthly disability benefits in excess of $6,000. Most CIGNA long-term disability policies offer a 2 year “own-occupation” disability definition and then the definition of disability changes to “any-occupation”.
After a series of meetings in Philadelphia’s Independence Hall, a group of prominent citizens formed the Insurance Company of North America (INA). INA is the first marine insurance company in the United States, and it will remain the nation’s oldest stockholder-owned insurer. In 1981 INA announces the intent to combine Connecticut General Corporation and INA Corporation. “CIGNA” is chosen as the name for the new concern, a combination of its predecessors’ initials. In March of 1981, the formation of CIGNA receives final regulatory approval. The Insurance Company of North America and Connecticut General Life Insurance Company become CIGNA’s chief operating companies.
In 1989 CIGNA acquired the MCC Companies, a managed mental-health care and substance-abuse programs. These companies are rebranded as CIGNA Behavioral Health, Inc. in 1999. In 1990 CIGNA acquired EQUICOR, the nation’s sixth-largest provider of employee benefits. In 1993 CIGNA purchases Tel-Drug, it merges with Rx PRIME, a CIGNA-managed pharmacy-benefit program formed in 1992. In 1997 CIGNA acquires Healthsource, a New Hampshire-based health care company. In 1998 CIGNA sells its individual life insurance and annuities businesses to Lincoln National Corporation. Also in 1998, CIGNA sells its property-casualty domestic and international businesses to ACE Limited of Hamilton, Bermuda. In 2000 CIGNA launches Times Square Capital Management, Inc. as the company’s independent, dedicated asset-management operation. In 2000 CIGNA sells its U.S. accidental death, individual life and group life reinsurance businesses to a subsidiary of Swiss Reinsurance Company. In 2000 CIGNA launched Times Square Capital Management, Inc. as the company’s independent, dedicated asset-management operation. CIGNA sells its U.S. accidental death, individual life and group life reinsurance businesses to a subsidiary of Swiss Reinsurance Company. In 2002 CIGNA was the first company to enter into the Chinese life insurance market.
CIGNA provides health care and related benefits in the United States and internationally. It operates in two segments, Health Care, and Disability and Life. Disability and Life segment provides various insurance products and related services, including group long-term and short-term disability insurance, as well as case management and related services to workers’ compensation insurers and employers; group life insurance products comprising group term life and group universal life; and personal accident insurance consisting of accidental death and dismemberment, and travel accident insurance. The company also offers corporate-owned life insurance, which are permanent insurance contracts sold to corporations to provide coverage on the lives of certain employees. In 2008, the Company reported total invested assets of approximately $18.3 billion.
In 2009 the California Department of Insurance fined LINA / CIGNA $600,000 and ordered them to re-evalaute thousands of wronguflly denied long-term disability insurance claims. Click here to read the California Settlement Agreement and the Report of Market Conduct regarding LINA / CIGNA’s wrongful long term disability claims handling practices.
As disability insurance attorneys, Dell & Schaefer have represented numerous clients with their long-term disability claims against CIGNA and its affiliated companies. Disability Attorneys Dell & Schaefer have provided and offer the following legal services for disability claimants that have a long-term disability insurance policy or disability income policy purchased from CIGNA:
- Application for long-term disability benefits with CIGNA
- Application for short-term disability benefits with CIGNA
- Monthly claim handling of CIGNA long-term disability insurance claims
- Appeal of a CIGNA denial of long-term disability benefits
- ERISA appeal of a CIGNA denial of long-term disability benefits
- Lawsuit against CIGNA for denial of long-term disability benefits
- Lump-sum buyout of a CIGNA long-term disability insurance policy
- Department of Insurance complaints against CIGNA for wrongful delay and denial of long-term disability benefits
Disability Insurance Company Cigna Corp. said Thursday its second-quarter net income fell 32 percent due to a big hit from a discontinued business.
However, the Philadelphia insurer lifted its full-year earnings outlook and said enrollment edged up 2 percent.
Cigna earned $294 million, or $1.06 per share, in the three months that ended June 30. That’s down from the $435 million, or $1.58 per share, in net income last year, when the insurer also saw a gain of 11 cents per share after freezing its pension plan.
Excluding one-time items, Cigna earned $1.38 per share.
Revenue rose 19 percent to $5.35 billion.
Analyst polled by Thomson Reuters forecast a profit of $1.01 per share on $5.26 billion in revenue, on average. Comparing these averages to Cigna’s adjusted net income can be difficult because the insurer includes results from a discontinued business. Many analyst projections do not.
Cigna operates health care, group disability and life segments in the United States. It also sells individual insurance in several countries and operates an expatriate business that provides coverage for people living outside their home countries.
The insurer’s medical enrollment rose 2 percent to 11.3 million compared to last year’s quarter, and it increased slightly compared to the first quarter. Cigna is the fourth-largest commercial health insurer based on enrollment.
Cigna’s biggest competitors — companies that include UnitedHealth Group Inc. and Aetna Inc. — all reported healthy profit increases and adjusted earnings that beat Wall Street expectations for the second quarter.
Cigna also delivered an “across-the-board solid” second-quarter performance, according to a Thursday morning research note from Leerink Swann analyst Jason Gurda.
Insurers have been helped so far in the second quarter by lower utilization of their coverage and big gains because claims leftover from previous quarters came in lower than expected. That was due in part to a mild flu season and swine flu outbreak that largely fizzled.
Cigna recorded a gain totaling $40 million due to those lower-than-expected claims.
The insurer has a broader product portfolio than some of its competitors, so its performance can be affected by factors they don’t face.
It said interest rate movements led to a loss of 37 cents per share in the quarter from its guaranteed minimum income benefits business. That compares to a 40-cent gain from that business in the same quarter last year.
Cigna discontinued that business and its variable annuity death benefits in 2000. It operates them in run-off mode, meaning it seeks no new business. But those segments can hurt the company’s performance when the market turns bad because Cigna’s liabilities toward them increase.
Cigna said the variable annuity death benefits were break-even in the quarter.
Looking ahead, the company expects a full-year profit of between $4.10 and $4.40 per share, better than its prior range of $3.75 to $4.15 per share. Analysts expect $4.10 per share.
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Disability benefits cases involving CIGNA:
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