When you need to file an ERISA disability lawsuit because of a disability, you have two avenues you can take: Settlement or litigation. The two important things to know before you make that decision are that you usually get less if you settle, and litigation could take several years if you or the insurance company decides to appeal. If you have excellent medical documentation that shows you have an LTD – a long-term disability – you could benefit from an ERISA lawsuit instead of a settlement. With an ERISA lawsuit, you do not get a jury trial – a judge makes the decision. Thus, if your evidence of a long-term disability is irrefutable, the lawsuit might not take as long. A disability attorney at DiAttorney.com (Dell & Schaefer) can help you decide the best course of action for your situation.
Settling an ERISA Case
The quickest way to get benefits for an ERISA case is to settle. However, you will get less than if you file a lawsuit. The pros of this are that it takes a few months instead of a few years, and you know for certain how much you will get. Additionally, once you and the insurance company signs a settlement, the insurance company cannot take it back. This is important to know because some people may want to try to work. However, if you work, even in a different profession that pays much less than the profession you can no longer work in, the insurance company could deny your claim. Once both parties sign a settlement and you get your check, it is set in stone and the insurance company can’t change its mind, even if you do go back to work.