Companion Life Insurance Company and Long Term Disability
Companion Life Insurance Company specializes in employee benefits. Companion Life sells True Group (10+ Employees), Trust Group (2 to 9 Employees) and Voluntary products through a network of independent agents and brokers, general agents and managing general underwriters. Companion Life sells life and disability plans. Companion Life serves groups as small as two to groups with hundreds or thousands of employees.
Companion Life’s Definition of “Disability”
Companion Life’s definition of disability is critical in determining eligibility for benefits. Disability or disabled means that an employee is prevented from performing one or more of the essential duties of his/her: occupation during the elimination period of two years; occupation for the 24 months following the elimination period, and as a result, the current monthly earnings are less than 80 percent of the indexed pre-disability earnings, and after that, any occupation.
The term “occupation” is defined in a Companion Life policy as it is recognized in the general workplace and not the specific job performed for a specific employer or at a specific location. “Any occupation” means an occupation for which the employee is qualified by education, training, or experience, and that has earnings-potential greater than the lesser of: the product of the indexed pre-disability earnings and the benefit percentage, or the maximum monthly benefit.
Companion Life Long Term Disability Plan Choices
- Two Year / Reducing Benefit Duration (RBD): This program is popular with companies with a mostly “blue collar” workforce. All the valuable features of the standard LTD contract are included in the plan. All employees receive coverage equal to 60 percent of their earnings to a maximum benefit of up to $6,000 per month. Elimination Period options are 90 or 180 days, and the maximum payment duration is for two years with a Reducing Benefit Duration (RBD) for older workers.
- Five Year / Reducing Benefit Duration (RBD): A maximum payment duration of five years is also available. A Reducing Benefit Duration (RBD) is included for older workers. All employees receive coverage equal to 60 percent of their earnings to a maximum benefit of up to $6,000 per month. This plan also provides a choice of Elimination Periods of either 90 days or 180 days before benefit payments begin. All standard LTD features apply to this program.
- Age 65 / Reducing Benefit Duration (RBD): This benefit is also available to all groups. With this plan, benefits can be extended to age 65. A Reducing Benefit Duration (RBD) is included for older workers. All employees receive coverage equal to 60 percent of their earnings to a maximum benefit of up to $6,000 per month.
Appeal of Companion Life Disability Denial Letter
If you have an individual policy or are a government employee and your long term disability claim has been denied or cut-off, you may not have to file an administrative appeal with the insurance company to enforce your rights. You should consult with an experienced disability attorney to determine your legal rights.
If you have a group plan Companion Life Insurance Company disability policy, your policy is likely governed by ERISA. ERISA does have strict appeal procedures and deadlines. ERISA requires an internal or administrative appeal if your benefits are terminated or denied. The time limit to file an appeal is very limited, usually only 180 days. Under some policies, you may have a second, voluntary appeal.
Companion Life Long Term Disability Attorney
Florida disability attorney Nick A. Ortiz offers the following legal services for disability claimants that have a long-term disability insurance policy or individual disability income policy purchased from Companion Life Insurance Company:
- Appeal of a Companion Life denial of individual or government long-term disability insurance benefits;
- ERISA appeal of a Companion Life Insurance Company denial of group LTD insurance benefits;
- Appeal of a Companion Life wrongful termination of individual or government long-term disability insurance benefits;
- ERISA appeal of a Companion Life Insurance Company wrongful termination of group LTD insurance benefits;
- Lawsuit against Companion Life after final denial of individual or government long-term disability insurance benefits;
- ERISA Lawsuit against Companion Life after final denial of group long-term disability benefits; and
- Lump-sum buyout or settlement of a Companion Life long-term disability insurance policy.
Call Boston Mutual disability attorney Nick A. Ortiz at 850-898-9904 for a free case evaluation.