As national disability insurance lawyers, every day we hear from disability claimants that have been denied long term disability benefits. Most of the these disability claimants have disability policies that are governed by ERISA. We want to get some public opinion from a claimant’s perspective about whether ERISA is a fair law. Please post your comments on our blog so that we can spread the word about changes that must be made to ERISA laws. Here is a recent comment from someone that emailed us earlier today:
I want to help other people with this issue! It’s a serious problem with have in the disability insurance industry. If the law would allow bad faith claims to filed, then it is my opinion that the bad faith denials would stop.
As of now they can deny all they want without suffering any type of penalty or slap on the wrist and hence these issues will continue. To not even award attorney fees is just outright wrong. I'm out 401k , my own funds, it sank me financially and I m out attorney fees. And my issue is easily proven to be bad faith. So, this is just wrong in so many ways the very fact that this ERISA law has been around since 1974 is really disgusting that this has not been fixed. It was initially put forward to stop people from frauding insurance. But now the insurance companies are taking it using this loop hole to commit fraud against a claimant now. Obviously the ERISA act is broken due to this allowance of not penalizing the insurance for wrong doing.
Anyway, I hope Dell & Schaefer and other firms unite and fight and Ill be more than happy to join it. So many are suffering over this and have lost everything we have. I just hope if something did change it would allow those who got punked due to bad denials are allowed to recover losses if they do change something.