How Will Sale of Cigna Disability Division to New York Life Insurance Co. Affect Disability Claimants?

On December 18, 2019 Cigna entered into an agreement to sell their disability insurance and life insurance division for $6.3 billion. This is a monster deal in the disability insurance world as Cigna was one of the top five largest disability insurance companies in the world prior to the sale.  With the purchase, NY Life Insurance company will instantly go from being a small disability insurance company to one of the biggest. We don’t expect this sale to have a big impact on Cigna disability policy holders, as we expect that NY Life will transition over the Cigna disability team. NY Life could not possibly absorb all of the Cigna disability claims without continuing with the majority of Cigna’s employees. In a recent press release about the sale, NY  Life insurance company’s CEO stated,

“This transaction increases the value we can deliver to our policy owners, strengthens our well-defined business model, and adds millions of customers to the New York Life family,” said New York Life Chairman and CEO Ted Mathas. “Cigna’s group life and disability business enhances our portfolio of strategic businesses and is led by an experienced management team and high-quality workforce, who we look forward to welcoming to our company. We are fully committed to making this transition as seamless as possible for employees and clients alike.”

The sale is not expected to be completed until the Fall of 2020 so Cigna policy holders should not see any changes until then. Once the transition is complete we expect that there will be some changes in the way the Cigna claims are handled. Our law firm has handled hundreds of NY Life disability claims and thousands of Cigna claims. These companies handle claims in different manners and we think that NY life will want Cigna to start doing things the NY life way. NY Life is a company that has been around since 1845, but their disability insurance experience is minimal compared to Cigna. Regardless of how NY Life decides manage the long term disability claims, claimants should expect that their claims will be reviewed as part of the sale. Claimants should make sure their medical support is up to date and be very diligent in 2020 with frequent medical visits. Our disability insurance lawyers have noticed increased claim denials and delays develop shortly after the consolidation of two insurance companies.

If you have questions about a NY LIFE or Cigna disability insurance claim, our lawyers always offer a free initial phone consultation. We represent claimants nationwide and we look forward to discussing your claim.

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Questions About Hiring Us

Do you work in my state?

Yes. We are a national disability insurance law firm that is available to represent you regardless of where you live in the United States. We have partner lawyers in every state and we have filed lawsuits in most federal courts nationwide. Our disability lawyers represent disability claimants at all stages of a claim for disability insurance benefits. There is nothing that our lawyers have not seen in the disability insurance world.

What are your fees?

Since we represent disability insurance claimants at different stages of a disability insurance claim we offer a variety of different fee options. We understand that claimants living on disability insurance benefits have a limited source of income; therefore we always try to work with the claimant to make our attorney fees as affordable as possible.

The three available fee options are a contingency fee agreement (no attorney fee or cost unless we make a recovery), hourly fee or fixed flat rate.

In every case we provide each client with a written fee agreement detailing the terms and conditions. We always offer a free initial phone consultation and we appreciate the opportunity to work with you in obtaining payment of your disability insurance benefits.

Do I have to come to your office to work with your law firm?

No. For purposes of efficiency and to reduce expenses for our clients we have found that 99% of our clients prefer to communicate via telephone, e-mail, fax, sessions, or Skype. If you prefer an initial in-person meeting please let us know. A disability company will never require you to come to their office and similarly we are set up so that we handle your entire claim without the need for you to come to our office.

How can I contact you?

When you call us during normal business hours you will immediately speak with a disability attorney. We can be reached at 800-682-8331 or by email. Lawyer and staff must return all client calls same day. Client emails are usually replied to within the same business day and seem to be the preferred and most efficient method of communication for most clients.

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I came to Dell & Schaefer after an attorney firm in Maryland decided in August they could not win my case and decided to drop me with my Appeal for LTD with Aetna due in October. I contacted Dell & Schaefer and sent the firm my information. They assigned me to Rachel Alters who is the best. She explained to me it normally takes 4-6 months to do an appeal, but Rachel assured me she would do her very best to win my Appeal in the limited time we had remaining to submit an Appeal.

Rachel worked very hard and we had some long phone calls, even though I have never met Rachel face to face I feel she is part of the family. I got a call from Rachel the beginning of December letting me know we won the case and that Aetna would be reinstating my benefits. There is nothing more I could ask for. Winning an appeal for LTD would not have been possible with out the law firm of Dell & Schaefer.

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