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**Melanie** · 12-08-2000, 12:13 PM

Siddy,
Welcome to the ICN!
Proceed with serious caution with disability insurance. I'm 26 and receive money from private disability insurance. I have been cautioned to NOT accept a lump sum. Especially since we are so young. My boyfriend's mom previously worked in the insurance company and said that taking a lump sum can be a bad idea. I would highly recommend contacting a lawyer before accepting anything.
Yes, dealing with the insurance companies is a real pain. They challenge me all the time. They have even tried denying me and I challenged it. It is a struggle, but it's worth it because I am still disabled and therefore entitled to it. I hope to return to work someday, even if just part time. In the meantime, I receive $ from insurance and Social Security.
Sorry, I don't want to tell you not to accept the offer. You need to discuss this with your loved ones, doctor, lawyer, etc and come to a decision based on that. Just proceed with caution, this is a big decision! I wish you all the best and keep us posted on the progress.
take care,
Melanie
BTW Also you might want to consult a tax advisor. I am required to pay taxes on my disability income because I didn't pay the premiums on the policy (my employeer did).

**Ruthie** · 12-09-2000, 05:45 AM

Hi Siddy,

I have not dealt with disabilty settlements, but I did have to deal with my spouse getting killed on the job 10 years ago. Believe me, and I really do not mean to sound bitter, but do not take the first thing that they offer. I dealt with workers compensation and third party liability, I was only 28, had not had children yet, my husband was the main provider, he was in excellent health, and made decent wages, he also had excellent medical, dental, vision, retirement, and a vacation fund. He was a journeyman heating and air conditioning man. Get a good lawyer, and interview more than one. Check with the state bar on the attorney, some states register complaints against lawyers. Please do this, I do not know if your disability is related to IC, but insurance co's hate paying out money, please do not be scared, niave, or let them bully you. I made the biggest mistake of my life with my settlement from my husbands on the job injury/death. Its been 10 years, and if I had to do it over, I would have been much less emotional, more levelheaded, and would have made sure that my lawyer told me everything during the case and negotiations, Also, I would have made sure that he worked for me. Please, Please, this could effect the rest of your life. Also make sure your lawyer works for you, and do not let him bully you because you are young. I know that this is a different situation entirely, but I have also worked on the other side for a while, and sat in on workers compensation meetings between the insurance co, and the employer. Like I said, I do not mean to sound bitter, but employers rates go up, their rates can be affected, at least with workers comp. with too many filings. and claims. Just be wise, and do not settle on the first thing that they offer, remember this can/will affect the rest of your life, especially if you are young. Good Luck!

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Ruthie : )

Siddy,

After thinking about it, I just wanted you to know that I did not mean to infer that you were dealing with workers compensation (on the job injury). You most likely have a disability insurance plan (long term), with your employer. Also, I may have sounded somewhat negative, but just make sure that you do speak to an attorney, someone that specializes in disabilities. Talk it over with your loved ones too, this can and will have an effect on your life. Good luck, I wish you the best!

[This message has been edited by Ruthie (edited 12-10-2000).]

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