What You Should Be Aware of When Purchasing a Lloyd's of London Disability Insurance Policy

Lloyds of London disability insurance policies are often very restrictive and are different than most disability insurance policies available from just about every other company. When shopping for disability insurance one will discover that there are multiple insurance companies that can offer a variety of different disability insurance policies, and all can contain different definitions, language and coverage terms. Purchasing disability insurance through traditional disability insurance carriers such as, MetLife and Guardian Berkshire Life Insurance Company, who provide own occupation and higher quality disability insurance policies, can be a difficult process for anyone with a pre-existing medical condition, or with some other reason that makes qualifying problematic.

Someone with a pre-existing medical condition will likely not qualify for underwriting, or will be issued a high premium disability insurance policy containing restrictive limitation and exclusion language and riders. Someone who has reached the maximum amount of disability insurance that they could financially qualify for would likely encounter the same problems. Under these scenarios it could be wise to consider purchasing disability insurance through Certain Underwriter’s at Lloyd’s of London.

However, unless one has attempted and failed to obtain disability insurance through a company such as, Northwestern Mutual Life Insurance Company, Guardian Berkshire Life Insurance Company or Metropolitan Life Insurance Company, or another traditional carrier, it would be advisable to contact one of these companies first before attempting to obtain disability insurance through Certain Underwriter’s at Lloyd’s of London.

As a surplus insurer Lloyd’s could underwrite an insurance policy for someone with a pre-existing condition, or underwrite someone who has reached the maximum in disability insurance coverage with their other disability insurance policies. However, the Lloyd’s policy will likely have language limiting the maximum benefit recovery period to approximately 5 years, and contain other limitations and drawbacks that are not found in other disability insurance policies. In addition, one can expect to pay a higher premium for the Lloyd’s disability insurance policy compared to a disability insurance policy from a traditional carrier.

“You only go to Lloyd’s if you have to. It’s really a last resort policy”, says Robert “Bob” Greenberg, CLTC, a disability insurance broker from Florida, with over 37 years of experience brokering own occupation disability insurance for professionals and group disability plans for employers. “My advice is to first look at all your traditional policies and plans first. If you have the maximum amount of insurance, or if because of a pre-existing medical reason you cannot obtain insurance from a traditional policy or plan, you would then go to Lloyds.”

How is Lloyd’s of London Structured?

Most people believe that Lloyd’s of London is an insurance company, when in actuality it is not. Lloyd’s was created in England, in 1774, as a non-incorporated association of subscribing members. It was incorporated by the Lloyd’s Act 1871, and it is currently governed under the Lloyd’s Acts of 1871 through to 1982.

Lloyd’s itself does not underwrite insurance business, its members do. Instead, Lloyd’s operates effectively as a market regulator, setting rules under which members operate an offering centralized administrative services to those members. For most of Lloyd’s existence wealthy individuals backed the policies written with their personal wealth. Since 1994, Lloyd’s has allowed corporations to become members in their market. In its 325 years, Certain Underwriter’s at Lloyd’s of London have issued diverse insurance products, insuring everything from Keith Richard’s fingers and a famous food critic’s taste buds, to policies specifically insuring occupations in the event of disability.

Lloyd’s Status to Sell Insurance in the United States

Since Lloyd’s is a British insurance and reinsurance market, it is not licensed to sell insurance in most U.S. states. Lloyd’s commonly sells insurance through its status as a surplus line insurer. Surplus line coverage is not available from the licensed market. Generally, unless specifically exempted by state law, the risk must be declined by at least 3 licensed or admitted insurers in the local market before it can be placed as surplus lines business at Lloyd’s.

However, there are a few places in the U.S. where Lloyd’s is licensed to sell insurance; Illinois, Kentucky and the U.S. Virgin Islands. Lloyd’s can write the same business in these jurisdictions as other U.S. licensed insurers. Typically, if one was interested in purchasing disability insurance through Lloyd’s they would contact their local broker, who would then contact a surplus lines broker. A lot of Lloyd’s disability policies are sold through Petersen Underwriters in California.

Weigh Other Options Before Purchasing Lloyd’s Disability Insurance

Since Lloyd’s is only admitted to sell insurance in a limited number of jurisdictions in the U.S., the likelihood is that the Lloyd’s policy will be underwritten as a surplus line disability insurance policy, which would contain a limited maximum pay period, as well as limitations and exclusions to coverage. Furthermore, unlike most disability insurance policies which will cover the insured in the event of a change in occupation, the Lloyd’s policy may not. In fact, most Lloyd’s policies require that the insured contact Lloyd’s if there is a change in the insured’s occupation, and charge an additional premium if the new occupation is considered more hazardous than the previous occupation. Disability insurance policies from traditional disability insurance companies do not contain such caveats, and will continue covering the insured without increasing the premiums despite any change in occupation.

We have represented numerous Lloyds of London disability insurance claimants and we are available to assist you in the event that you need to make a claim for benefits under your policy. It is always advisable to have an attorney represent you if you need to pursue a disability claim, as Lloyds uses a third party company to manage a disability claim and they will look for every possible reason to challenge the claim. Contact us for a free consultation.


Did you find this helpful?
Unhelpful (1)

Resources to Help You Win Disability Benefits

Disability Benefit Denial Options
Submit a Strong Lloyd's of London Appeal Package

We work with you, your doctors, and other experts to submit a very strong Lloyd’s of London appeal.

Learn more

Sue Lloyd's of London

We have filed thousands of disability denial lawsuits in federal Courts nationwide against Lloyd’s of London.

Learn more

Protect Your Benefits
Get Your Lloyd's of London Disability Application Approved
We help claimants throughout the entire application process.

Learn more

Prevent a Lloyd's of London Disability Benefit Denial
We manage every aspect of your disability claim following claim approval.

Learn more

Negotiate a Lloyd's of London Lump-Sum Settlement

Our goal is to negotiate the highest possible buyout of your long-term disability policy.

Learn more

Lloyd's of London Reviews
(0)
Answered Questions by Our Lawyers
(0)
Helpful Videos
(861)
Showing 12 of 861 Videos
Disability Benefit Tips
(329)
Showing 8 of 329 Benefit Tips

What You Should Be Aware of When Purchasing a Lloyd's of London Disability Insurance Policy

Lloyds of London disability insurance policies are often very restrictive and are different than most disability insurance policies available ... Read More >

Disability Benefit Denial Reason #4 - Your Doctor Is Misled By the Disability Company

When you're seeking disability benefits under a long term disability policy, your medical rec... Read More >

Disability Benefit Denial Reason #3 - Video & Social Media Surveillance

One thing many long term disability claimants don't know about (or expect) from the claims re... Read More >

How Do You Fight a Long-Term Disability Denial?

Getting a denial letter from your disability insurance company is one of the ultimate insults... Read More >

Disability Denial Reason #2 - Change of Disability Definition & Vocational Review

One of the top reasons for terminating a claimant's long term disability benefits involves th... Read More >

Disability Denial Reason #1 – Paper Review & IME

At Dell Disability Lawyers, we've seen insurance companies give countless reasons to deny lon... Read More >

How to Apply for Reliance Standard Disability Benefits & Top 5 Reasons for a Claim Denial

At Dell & Schaefer we’ve handled hundreds of long term disability insurance claims against Reliance Standard, and have learned a few thi... Read More >

Applying for Standard Disability Benefits? Top 5 Claim Denial Reasons

At Dell & Schaefer, we've helped hundreds of clients recover long term disability benefit... Read More >
Dell Disability Cases
(369)
Showing 8 of 369 Dell Disability Cases

Engineer With Depression Wins Prudential LTD Appeal

The claimant is a former Senior Technology Services Engineer for Accolade, Inc. who was force... Read More >

New York Life Approves Disability Benefits for School Teacher With Multiple Sclerosis

Our client, a former elementary school teacher suffering from Multiple Sclerosis, contacted our office after New York Life terminated her clai... Read More >

Lincoln Denies Disability Insurance Benefits to 66 Years old Software Developer with Long Covid and MS

Our client came to us after he was denied continued Long Term Disability (LTD) benefits by The Lincoln National Life Insurance Company. Previ... Read More >

Lincoln LTD Denial Reversed for an Occupational Therapist that was Denied Benefits After 24 Months

Our now client came to us after she received a denial letter following her receipt of long term disability b... Read More >

Nurse With Knee and Back Disorder Wins Hartford Disability Appeal

We represent a General Duty Nurse who was denied long term disability benefits as Hartford im... Read More >

Dell Disability Lawyers Win Disability Insurance Appeal Against Prudential for KPMG Employee

Our client, a former Managing Director - Tax Consultant for KPMG contacted our office after h... Read More >

Lawyer Wins 24 Month Mental Nervous Prudential Disability Denial

Our client, a former law partner of a large national law firm, filed for disability with Prud... Read More >

How does Reliance Standard deny long term disability benefits after paying for three years?

A former Payroll Manager for Solairus Aviation, a large Private Jet Charter and Aircraft Mana... Read More >
Disability Lawsuit Stories
(764)
Showing 8 of 764 Lawsuit Stories

Lloyd's of London ordered to pay over 6 million dollars to long term disability claimant

Certain Underwriters at Lloyd's London insurance company took almost two years to make a decision regarding a doctor's disability application ... Read More >

Unum Wrongfully Terminated Disabled Lawyer’s Disability Claim of Depression and Anxiety Despite Improvement in His Condition

This Unum lawsuit appeal case is a great victory for all Unum disability claimants. This case supports all ... Read More >

Federal Court Overturns Aetna Denial Of Disability Benefits

In the recent case of Ferrin v. Aetna Life Ins. Co. a federal judge from the Northern District of Illinois determined that Aetna improperly te... Read More >

Court Finds Irregularities in Procter & Gamble Long Term Disability Benefit Denial

In ERISA cases filed in a district court asking for judicial review of a plan administrator's denial of benefits, the court is generally limit... Read More >

Federal Judge Makes Companion Life Insurance Pay Long Term Disability Benefits

Companion Life tried to play games and deny long term disability benefits, but thankfully a New Mexico Federal Judge made them pay disability ... Read More >

NFL Disability Review Board Ignores Evidence of Disability and Appeal Court Reverses Lower Court Decision

In Darren Mickell v. Bert Bell/Pete Rozelle NFL Players Retirement Plan (Plan), Mickell spent nine years in the NFL as a defensive e... Read More >

Judge Agrees that MetLife's Denial of Long Term Disability Benefits was Reasonable

In Anne Ehlert v. Metropolitan Life Insurance Company (MetLife), Ehlert was a consulting pension actuary for pension plans at Towers... Read More >

Can Standard Insurance Company’s Failure to Raise an Issue be Considered a Waiver?

The case of Jose Chavez v. Standard Insurance Company has quite a history with the United States District Court for the Northern Dis... Read More >

Reviews from Our Clients

Request a Free Consultation

Our Lawyers Respond Same Day

5 Ways We Help Get Your Benefits Paid

Get Your Disability Application Approved

Our goal is to get your application for disability income benefits approved. Applying for disability benefits can be a difficult process and the information you provide is critical. Most disability insurance companies look at your application in hopes of finding a reason to deny your claim. Your disability company will ask you to complete numerous forms, interview you, request lots of information, speak with your doctors and possibly request to have you examined by their "hired gun" doctor.

Through our experience of having helped thousands of disability insurance claimants, our lawyers will guide you through the entire application process and give you the best chance to get your disability claim approved the first time.

Submit A Strong Appeal Package

If your disability insurance benefits have been wrongfully denied, then our lawyers know exactly what it takes to get your disability claim approved. You only get once chance to submit an Appeal, therefore every piece of evidence that will support your disability claim must be included. The goal is to win your disability benefits at the Appeal level, but while preparing your Appeal you must consider how a federal judge will review your disability claim if your benefit denial is upheld.

Preparing a strong disability appeal package is an art that requires you to understand how the courts interpret your disability policy language, ERISA regulations / laws, and how to strategically present evidence in support of your definition of "disability". We encourage you to contact any of our lawyers for a free immediate review of your disability denial.

Sue Your Disability Company

98% of the disability insurance lawsuits filed by our law firm have resulted in either the payment of benefits or a lump-sum settlement agreement. Our disability lawyers have filed ERISA governed and private policy long term disability insurance lawsuits against every major disability insurance company in state and federal courts nationwide and we love fighting for the "little guy" against the multi-billion dollar insurance company giants.

We have recovered hundreds of millions of dollars for our clients and we would like the opportunity to provide you with a free review of your disability benefit denial. There are many complex factors in a disability benefit lawsuit and the legal battle to win long term disability benefits can be fierce.

Prevent A Disability Benefit Denial

Approval of long-term disability is a continuous process as every disability insurance company will evaluate your eligibility for benefits on a monthly basis. You can never let your guard down and assume that your disability company will continue to pay your benefits for as long as you think you need them.

Our law firm offers a reasonable flat fee monthly claim handling service in which we handle every aspect of your long-term disability claim and do whatever it takes to make sure you are paid every month.

Negotiate a Lump-Sum Settlement

Let's discuss if a lump-sum settlement or buyout of your disability insurance claim is both available and makes financial sense for you. Our lawyers have negotiated more than five-hundred million dollars in disability insurance buyouts and we know how to get you a maximum settlement. A disability insurance company is not required to offer a buyout and not every disability company offers them.

Questions About Hiring Us

Who are Dell Disability Lawyers?

We are disability insurance lawyers that know how to get your short or long term disability benefits paid. As a nationwide law firm we have helped thousands of disability insurance claimants throughout the United States to collect hundreds of millions of dollars of disability insurance benefits from every major disability insurance company.

In more than 98% of our cases, our lawyers have been able to either get our clients paid monthly disability benefits or obtain a one-time lump-sum settlement. Our lawyers have seen it all when it comes to disability insurance claims and we know exactly what it takes for your disability claim to be approved.

We welcome you to contact any of our attorneys for a free immediate review of your disability claim. We also invite you to visit and subscribe to our YouTube channel where we have more than 700 videos and regularly provide tips to help protect your disability benefits.

Who do you help?

Our lawyers help individuals that have either purchased a long term disability insurance policy from an insurance company or obtained short or long term disability insurance coverage as a benefit from their employer. We have helped individuals in almost every type of occupation with monthly disability benefit payments ranging from $1,500 to $50,000.

Our clients include all types of employees ranging from retail associates, sales representatives, government employees, police officers, teachers, janitors, nurses, pilots, truck drivers, financial advisors, doctors, dentists, veterinarians, lawyers, consultants, IT professionals, engineers, professional athletes, business owners, and high level executives.

A strong understanding and presentation of the duties of your occupation is essential for securing disability insurance benefits.

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 phone, email, fax, GoToMeeting 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 800-698-9159 or by email. Lawyers 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.