Category: Insurance Related

CLE Course: Recent Litigation and Legislation in Insurance Law
avatar


Authored by , re: Insurance Related, on .
CLE Course: Recent Litigation and Legislation in Insurance Law | Evan Schwartz

In addition to my law practice, I have the honor of serving as a faculty member on LawLine.com, which is the largest online, continuing legal education (CLE) provider in the United States. I have 11 lectures available, some of which I delivered on my own, and some with the help of my partner, Matthew Conroy. Those lectures are available for purchase and viewing on LawLine. Today, I want to talk to you about two lectures that Matthew Conroy and I will be giving on May 1st. The first part of the series is titled, “Recent Litigation and Legislation in Insurance Law.” We will offer an update for the legal profession on the trends in insurance coverage litigation.

Click here to read Evan Schwartz's full article...

Mental and Nervous Limitations in Long-Term Disability Policies
avatar


Authored by , re: Insurance Related, on .
Mental and Nervous Limitations in Long-Term Disability Policies | Evan Schwartz

Many, if not all, group long-term disability policies contain a mental and nervous limitation, as do some individual disability insurance policies. Typically, the limitation stipulates that the policy will only pay the insured for disabling psychiatric conditions for a finite period of time. Usually, the period is 24 months, but it can be shorter or longer depending on how the policy is written. It is important that disabled individuals fully understand the limitation including:  •What it states; •What it applies to; and •What it does not apply to.

Click here to read Evan Schwartz's full article...

Trying a Long-term Disability Case: The Big Gamble?
avatar


Authored by , re: Insurance Related, on .
Trying a Long-term Disability Case: The Big Gamble? | Evan Schwartz

{3:35 minutes to read} Having participated in a number of long-term disability trials over the years, I can tell you that the trial process is an exhilarating experience—for an attorney—but is a very daunting and painful process for you, the claimant. It is extraordinarily expensive, time-consuming, and high-risk. A long-term disability trial is an all-or-nothing proposition. In most cases, you either win and get all your back-benefits and benefits paid into the future, or you lose and get nothing.

Click here to read Evan Schwartz's full article...

Why You Need a Lawyer Before Filing an LTD Claim
avatar


Authored by , re: Insurance Related, on .
Why You Need a Lawyer Before Filing an LTD Claim | Evan Schwartz

3:40 minutes to read} Many years ago, before 1995, a professional could file a long-term disability claim on their own and likely get paid. After 1995, the industry changed dramatically. Many companies went out of business in the long-term disability space, claims were being denied and terminated like wildfire, and litigation spawned all over the country on a massive basis; a huge industry shakeup happened. About ten years later, long-term disability insurers started selling these policies again, but they changed their claims management model.

Click here to read Evan Schwartz's full article...

Pursuing A Bad Faith Claim Against Your Insurance Company
avatar


Authored by , re: Insurance Related, on .
Pursuing A Bad Faith Claim Against Your Insurance Company | Evan Schwartz

{3:20 minutes to read} An insurance company engages in bad faith when it unreasonably denies, delays, terminates or underpays your claim. For example, if the insurance company refuses to pay for your homeowner’s claim or your business interruption claim, or to compensate you for harm caused due to water or fire damage, these denials may have been made in bad faith.                             Bad faith conduct happens frequently. There is an analysis that requires a skilled attorney to help you determine whether there is a possibility that the insurance company has engaged in bad faith conduct, based on how they have treated your claim.

Click here to read Evan Schwartz's full article...

Deductibility or Long Term Care Insurance and the 2017 Limitations
avatar


Authored by , re: Insurance Related, on .
Deductibility or Long Term Care Insurance and the 2017 Limitations | Ronald A. Fatoullah

By: Ronald A. Fatoullah, Esq. and Elizabeth Forspan, Esq.

{4:22 minutes to read} Many people wisely choose to purchase a long-term care insurance policy which will pay for all or some of the costs of long-term care services, such as care at home or in a skilled nursing facility. It is important to understand that the government provides certain incentives, in the form of tax deductions and credits, for those who purchased and continue to pay for such policies. There are tremendous added tax benefits that individuals with such policies must understand before “tax time” rolls around.

Click here to read Ronald Fatoullah's full article...

High Scrutiny of Long-Term Disability Insurance Claims by Insurance Companies
avatar


Authored by , re: Insurance Related, on .
High Scrutiny of Long-Term Disability Insurance Claims by Insurance Companies | Evan Schwartz

{3:30 minutes to read} Filing a claim for long-term disability benefits is an exhausting and complicated process—especially in the early stages. Professionals need to be wary of what this process entails in order to be prepared and ensure that their claim is approved. Upon receiving a long-term disability claim, insurance companies carefully and extensively examine it before they acknowledge their liability to pay the claim. A simple medical report and claim form will not be sufficient. In today’s environment, insurance companies treat disabled professionals seeking benefits like suspects in a criminal conspiracy.

Click here to read Evan Schwartz's full article...

Do You Think You Have a Bad Faith Insurance Claim?
avatar


Authored by , re: Insurance Related, on .
Do You Think You Have a Bad Faith Insurance Claim? | Evan Schwartz

{3:40 minutes to read} In my last blog, I spoke about what bad faith is generally. In this blog, I discuss a few preliminary considerations when you are wondering if your insurance company has treated you in bad faith and whether you can do something about it. Is the insurance policy governed by federal law or state law? •Federal – Group policies obtained through your employer are ordinarily governed by a federal law, known as the Employee Retirement Income Security Act (ERISA). Policies governed by ERISA cannot have a bad faith claim under any circumstances.

Click here to read Evan Schwartz's full article...

Insurance Bad Faith
avatar


Authored by , re: Insurance, Insurance Related, on .
Insurance Bad Faith | Evan Schwartz

{2:00 minutes to read} The term “bad faith” is used when an insurance company unreasonably denies, delays, terminates, or underpays a claim. First-party bad faith specifically refers to the contract between you/your business and the insurance company (as opposed to the insurance company paying a claim made against you or your business from a third party). Examples of first-party bad faith could include your insurance company’s refusal to pay for: •Homeowner’s claims; •Business interruption claims; •Property damage suffered due to water or fire, etc.;

Click here to read Evan Schwartz's full article...

Long-term Disability Claims for Dental Practitioners: What You Need to Know
avatar


Authored by , re: Insurance Related, on .
Long-term Disability Claims for Dental Practitioners: What You Need to Know | Evan Schwartz

{3:50 minutes to read} Attorneys who represent dental practitioners in long-term disability (LTD) claims must be prepared to thoroughly understand the interplay between their occupational duties, policies, and disabling conditions—conditions which will prevent or limit the practicing dentist from performing the precise, physical demands of the profession. A successful result can only be achieved by gathering the necessary documentation and paying attention to the following contributing factors that influence these claims:

Click here to read Evan Schwartz's full article...

Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease?
avatar


Authored by , re: Insurance Related, Trusts, Estates & Elder law, on .
Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease? | Robert Shaw

Trusts fall into two main categories: revocable and irrevocable. Revocable trusts are set up by the individual (known as the “grantor”), often for their own benefit, and can be changed at any time. Irrevocable trusts are setup in a manner intending that they not be changed. Both types of trusts can be either living trusts or trusts which take effect upon death, known as testamentary trusts. These are some examples of the many specific types of trusts serving myriad different purposes:

Click here to read Robert W. Shaw's full article....

Understanding & Navigating Long-term Disability Claims for Physicians — Part 2
avatar


Authored by , re: Insurance Related, on .
Understanding & Navigating Long-term Disability Claims for Physicians — Part 2 | Evan Schwartz

{3:00 minutes to read} In our previous article, we began to review the three components of a long-term disability (LTD) claim case. Below, we continue the discussion by looking at occupational duties of physicians, as well as total disability & residual disability. The Occupational Duties of Physicians There is a wide range of unique, occupational duties for doctors that vary based on specialty. Most commonly, duties are within the clinical care realm—examining, diagnosing, treating, and taking care of patients. Surgical duties are fairly typical as well, which often include interventional procedures in radiology, cardiology, etc.

Click here to read Evan Schwartz's full article...

Understanding & Navigating Long-term Disability Claims for Physicians – Part 1
avatar


Authored by , re: Insurance Related, on .
Understanding & Navigating Long-term Disability Claims for Physicians – Part 1 | Evan Schwartz

{3:20 minutes to read} To successfully represent doctors in long-term disability (LTD) claims, there are many important, core concepts that your attorney needs to understand. Because of the potential for complications, an attorney must understand the physician’s policies, as well as any agreements with his or her respective practice(s). The key to successfully representing doctors in LTD cases is to have an in-depth understanding of three distinct components of any case: 1. The physician’s multiple contracts and agreements; 2. The broad range of occupational duties; and

Click here to read Evan Schwartz's full article...

Concepts on Estate Planning
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Concepts on Estate Planning | Michael Fliegelman

{1:12 minutes to read} As the new year begins, I wanted to introduce to you some concepts on estate planning. There’s a piece that I’ve attached called Paying for Life Insurance in the Irrevocable Trust: Interest Rate Affected Estate Planning. In this brochure is information on both of the concepts below. Because we’re in a low interest rate environment, great opportunities exist to leverage the irrevocable trust and pay for life insurance.

Click here to read Michael Fliegelman's full article...

What Happens If You Under Insure Your Space?
avatar


Authored by , re: Insurance Related, on .
What Happens If You Under Insure Your Space? | Seth Jonas

Though the odds of a total loss may be small, it could happen. That is the reason insurance companies do not want you to under insure a building because you think you can’t afford whatever amount the insurance is. If you have a $10 million building and decide you can’t afford to pay for $10 million worth of insurance, so you only insure it for half a million dollars, the insurance company will likely penalize you for insufficient insurance if there is a claim.

Click here to read Seth Jonas' full article...

Life Happens. Are You Prepared?
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Life Happens. Are You Prepared? | Michael Fliegelman

{1:00 minutes to read} September is Life Insurance Awareness Month. Other assets that you purchase, such as investments, real estate, or property, get reviewed and managed as a matter of course. But when it comes to life insurance, many times people just buy it, put it in a drawer, and leave it there. The importance of life insurance can’t be overstated. Our suggestion is to become aware of what you have and make sure it is the right policy for you.

Click here to read MIchael Fliegelman's full article...

Managing Trust Owned Life Insurance – Part 1
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Managing Trust Owned Life Insurance – Part 1 | Michael Fliegelman

{3 minutes to read} I would like to introduce a wonderful new service SWAN is providing to our clients. We are professionals in wealth transfer, life insurance, and helping our clients make good decisions regarding their money. One especially important area is managing their life insurance. Too many times, however, we see people buy life insurance and fail to manage it. In order to manage your life insurance, you need to bring in professionals — people that can help you make the best decisions regarding your life insurance.

Click here to read Michael Fliegelman's full article...

Life Insurance and Irrevocable Trust – The Peanut Butter Cup of Insurance
avatar


Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, Insurance Related, on .
Life Insurance and Irrevocable Trust – The Peanut Butter Cup of Insurance | Michael Fliegelman

{1:36 minutes to read} Today I want to talk about life insurance and estate planning for those that can afford it and are insurable.  Like peanut butter and chocolate in a Reese’s peanut butter cup, life insurance and an irrevocable trust are 2 things that go great together. Robert Adler, an attorney and part of the team that we bring to our clients to implement the legal documents for their estate and financial plans, wrote an article called Life Insurance Elevates the Plan.

Click here to read Michael Fliegelman's full article...

Long Term Care Update
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Long Term Care Update | Michael Fliegelman

{2:36 minutes to read} The long term care business continues to be an area of concern for many people. The problem is worsening because people are living longer and the cost of health care and long term care coverage continues to rise. Here is a quote from an article by Philip Moeller in Time magazine: “Insurance is not about optimizing your finances—it’s about protection against a catastrophic event. The odds of your house burning down are very, very small, but you have home insurance nonetheless. And even if your mortgage lender didn’t require it, I bet you’d still have home insurance.“

Click here to read Michael Fliegelman's full article...

Long Term Care Product Spotlight
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Long Term Care Product Spotlight | Michael Fliegelman

{2:54 minutes to read} Since we are constantly dealing with the very, very rapidly changing marketplace for long-term care (LTC) insurance, I want to share with you some perspective on 3 products that MassMutual offers for brokers to sell, to protect clients against the cost of long-term care. Traditional Long Term Care Policy MassMutual sells a traditional stand-alone long-term care policy and has a really good track record with long-term care products. They have:

  • Never had an in force rate increase, and is the only company that sells in the brokerage marketplace; that has this distinct advantage
  • A dividend-paying policy

Click here to read Michael Fliegelman's full article...

The Affordable Care Act – Not So Affordable?
avatar


Authored by , re: Insurance Related, on .
The Affordable Care Act – Not So Affordable? | Seth Jonas

The Way We Were — Prior to 1990, most health insurance plans involved a deductible – and coinsurance after the deductible was reached. It was affordable and uncomplicated. The early ’90s brought higher insurance rates, co-pays and the “in-network/out-of-network” system. Co-pays were associated with the “in-network” providers. Deductibles and coinsurance would apply if the patient went to an out-of-network provider.

Click here to read Seth Jonas' full article...

Is life insurance a part of your retirement plan? It should be.
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance, Insurance Related, on .
Is life insurance a part of your retirement plan? It should be | Michael Fliegelman

{3:12 minutes to read} Today I want to talk about qualified plan accounts as an approach to purchasing life insurance as part of your retirement plan. Qualified plans include:

  • 401(k);
  • Profit-sharing;
  • Money purchase; and
  • Defined benefit plans.
As people get older and accumulate wealth, these qualified plan accounts could potentially represent a very attractive way for an individual to purchase life insurance.

Click here to read Michael Fliegelman's full article...

What the Low Interest Rate Environment Means for Your Estate Plan: Life Insurance Premium Financing
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
What the Low Interest Rate Environment Means for Your Estate Plan: Life Insurance Premium Financing | Michael Fliegelman

{2:30 minutes to read} In a prior blog, we talked about a concept that is still very popular today called life insurance premium financing. Life insurance premium financing is a strategy that takes advantage of a low interest rate environment. It’s not for the many, but it’s definitely for the few. How It Works Many of our clients with high net worth estates grow their businesses and their properties in such a way that they may be getting a better rate of return on their real estate, businesses and investment endeavors than the rate of return on a life insurance policy. They need life insurance for numerous estate planning reasons, but they don’t want to take the money out of their current assets.

Click here to read Michael Fliegelman's full article...

What the Low-Interest-Rate Environment Means for Your Estate Plan: Loans to Irrevocable Trusts
avatar


Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, Insurance Related, on .
What the Low-Interest-Rate Environment Means for Your Estate Plan: Loans to Irrevocable Trusts | Michael Fliegelman

{4:10 minutes to read} Going into 2015, we’ve experienced the continuation of what has been a low-interest-rate environment. While this is a good thing for people who are applying for mortgages, it might not be the best thing for your financial plan when it comes to investing. However, it might be a great opportunity for your estate plans. People are taking advantage of numerous strategies today to create benefits for their financial and estate plans. I would like to go over a couple of ideas on how this low-interest-rate environment can create tremendous income tax and estate tax benefits for you and your family.    

Click here to read Michael Fliegelman's full article...

Hole-in-One Insurance
avatar


Authored by , re: Financial Planning & Insurance, Insurance Related, on .
Hole-in-One Insurance | Seth Jonas

{2:13 minutes to read} What is “hole-in-one insurance?” If the organizers of an event wish to offer a prize but would rather not give out that prize, they can purchase an insurance policy called “hole-in-one Insurance.” In this way they can add excitement to their tournament or event without the risk of a payout. The term could apply to insurance purchased to indemnify the prize offered at a golf tournament.

Click here to read Seth Jonas' full article...

Sustain Your Future With Long Term Care
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Sustain Your Future With Long Term Care | Kellan Finley

{Time to Read: 5.5 minutes} Long term care insurance is a hot topic. It is designed to protect against asset depletion when a person is deemed unable to perform two of the six activities of daily living, such as bathing and eating. We believe the increased interest for long term care insurance is from personal experience. Many people in their mid-40s to mid-50s have recently seen the reality of long term care needs with their parents. The challenges of coordinating care for a parent are only compounded when there are limited funds to pay for the necessary care. However, despite the realities of long term care needs, there remains a sizeable gap in the public’s perception of long term care.

Click here to read Kellan Finley's full article...

How Much Liability Insurance Does Your Lease Require You to Buy?
avatar


Authored by , re: Financial Planning & Insurance, Insurance Related, on .
How Much Liability Insurance Does Your Lease Require You to Buy | Seth Jonas

Whenever a tenant moves into a new office, there is almost always an insurance provision on the lease that mandates the amount of liability insurance you must purchase. Leases almost always contain requirements that your insurance policy cover the landlord as well as yourself. This is because if someone slips and injures themselves in your unit, they will likely sue both the tenant and the landlord who owns the property in which the incident occurred.

Click here to read Seth Jonas' full article...

The 2015 Financial Data You Need
avatar


Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, Insurance Related, on .
The 2015 Financial Data You Need | Michael Fliegelman

Every year as a courtesy to our clients, we post key financial data for the new tax year. Every year the IRS changes significant amounts of information, so we post it to our website. It shows income tax brackets, capital gains brackets, IRA contributions, and health savings accounts. It also shows changes to the gifting law – there is now a $5.4 to $3 million lifetime amount that could be passed tax-free. The annual gift tax exclusion remains the same at $14,000. Retirement plan contributions, which are adjusted each year, are also available. To access the information on our website, click here [PRO] click here [Consumer].

Click here to read Michael Fliegelman's full article...

Strategic Wealth Advisors Networks
avatar


Authored by , re: FINANCIAL ARTICLES, Insurance Related, on .
Strategic Wealth Advisors Networks | Michael Fliegelman

Strategic Wealth Advisors Networks is a benefit planning firm, providing the highest level of service to business owners. We have been providing consulting services to corporations and businesses regarding their benefits, for some 30 years. We have been helping clients design and create the most cost effective programs in the areas of:

  • Group Medical Insurance
  • 401K plans
  • Disability Income Benefit Plans (both from a group perspective and supplemental coverages)
  • Group Life Insurance
  • Group Dental Insurance

Click here to read Michael Fliegelman's full article...