‘You think you’re sooo smart!’
Prevalent among wealthier IDI insureds is often the idea that they are “entitled” to receive disability contract benefits because, as they tell me, “I’ve been paying on this policy for more than 10 years, and now they need to pay me.” Sorry, but no, it doesn’t work that way.
Sometimes the feeling of entitlement extends to demanding the insurance company amend their claims review process in order to satisfy unreasonable expectations of insureds. I can tell you that in my experience, those insureds who operate as if they are “entitled” to benefits often battle-guard their own positions of “opposition” from the very beginning.
Please let me be clear. Disability benefits ARE NOT ENTITLEMENTS, and no one is owed a benefit. Both ERISA Plans and IDI product contracts include “conditions” that must be met, timelines, and rules. No IDI insured is guaranteed a benefit because they paid on the policy for a long time. And no one insured is better than anyone else.
It’s really hard sometimes to advise insureds as to what’s true and what’s not. Talk about shooting the messenger….well, let’s not! Processing disability claims IS NOT YOUR SHOW. No IDI insured has any advantage over anyone else, and clearly insurers are NOT required to appease insureds by granting special “favors”.
It seems to me that people are confused about “entitlements” anyway. SSR, SSI and SSDI ARE entitlements people often don’t want to apply for. Yet, the American people and their employers pay FICA taxes and contribute into the SS system with the anticipation of receiving future benefits. Now, THAT is an entitlement! Americans are ENTITLED to receive benefits (if they paid in sufficient quarters), and should apply.
Comparing IDI premium doesn’t even come close. Premium paid on IDI products pays the insurance company to cover the “insured’s risk” for a certain period of time. Once that “time” passes, it’s all said and done, and no one is eligible for benefits simply because money has been paid for the insured to be risk free.
My perspective as a Consultant is that wealthier segments of our society have had a significant persona change that is perceived as entitlement about many things, not just disability insurance. But, as an expert in disability claims, I can honestly say that “entitlement” is a belief that is a real “claims buster” for most who expect to control the disability claim process. It just ain’t goin’ to happen.
The best personal attitudes by far find ways to work with the current disability claims system, know what say and what not to say, understand the importance of documentation, and know when to step back and let the system play out. No one is ENTITLED to disability benefits and EVERYONE is required to play by the rules.
