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.

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, GoToMeeting.com 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.

What We Do

Lump-Sum Policy Buyouts

Disability Insurance companies sell long term disability policies with the hope that they will never need to pay monthly benefits to an insured. Once an insurance company becomes obligated to pay an insured monthly disability benefits, the insurance company is losing money. In an effort to cut their losses, most disability insurance companies are always interested in the opportunity to buy-out an insured’s disability policy for a one-time lump sum amount.

Our disability lawyers have established relationships with the people at each disability company that make the decisions on disability buyouts. Since 1979 we have helped our clients to recover hundreds of millions of dollars in disability benefits. We always offer a free immediate phone consultation to discuss how we could help you. We work closely with actuaries, financial consultants and treating physicians in order to maximize a buy-out offer.

Watch our video above to learn if you are eligible for a disability lump-sum buyout.

How Are Lump-Sum Buyouts Calculated?

Every disability company has their own methodology and formulas for determining the value of an insured’s disability income policy. As a result of handling buy-outs with almost every disability insurance company, we are well aware of each company’s valuation methods. There are multiple factors involved in determining the value of an insured’s disability income policy. Some of the factors that insurance companies will consider are:

the life expectancy and mortality of the insured;
the current corporate bond rate;
the likelihood that the insured will remain totally or residually disabled;
the amount of insurance company reserves for the specific policy;
the present value of future monthly disability benefits;
the age of the claimant and years remaining on the policy

In every lump-sum policy buyout, the insurance companies will make an offer that is discounted to present value dollars. This means that if the future value of an insured’s disability payments in 10 years would be $960,000 ($8,000 a month multiplied by 120 months), then the present value is the amount of money an insured needs today at a stated interest rate in order to equal $960,000. Assuming an $8,000 monthly benefit, 120 months of remaining payments, and an interest rate of 4%, then the present value of $960,000 would be approximately $790,000. This means that if you deposited $790,000 in the bank today and received an interest rate of 4%, then you would have $960,000 ten years from today if you never touched the money.

The present value amount is always less than future value. Insurance companies only offer settlements based upon the present value and they will never pay 100% of the present value as there is no financial benefit for them to do so. They will however, use the previously stated factors in arriving at a buy back amount.

Companies Offering Disability Buyouts

Disability insurance companies are not required to offer a lump-sum buyout of a disability, yet of the 40 different companies there are some that do so more than others. The ten most common disability companies that will consider a disability buyout are:

Cigna (Life Insurance Company of North America)
Unum
Prudential
Lincoln Financial (Acquired Liberty Mutual in 2018)
Hartford (Acquired Aetna Disability in 2017)
Sun Life Financial
Disability Management Services (“DMS”)
The Standard
Met Life
Trustmark

When Does a Disability Buyout Make Sense?

Lump sum buy backs are not advisable for everyone. However, they often make sense for an insured for the following reasons:

cash received is often tax free to be invested as you desire;
no risk of future denials or uncertainty of upcoming benefits;
monthly benefits end at the death of the insured;
cash received now can be used for estate planning or new venture;
no longer subject to insurance company solvency;
option to try a return to work without insurance company scrutiny.

If you are interested in pursuing a lump-sum disability buyout contact Attorneys Dell & Schaefer to make sure you are receiving the maximum buy-out possible.

Speak With An Attorney Now

Request a free legal consultation: Call 800-682-8331 or Email Us

We respond the same day.
No fee or cost unless you get paid.
No office visit necessary.
We represent disability insurance claimants nationwide.