Within the consultation period, one of our attorneys will go through the different coverages and benefits of your policy. They will discuss the elimination period and will provide some strategies for efficiently satisfying it. They will also help you determine whether you are already claim eligible and advise you on whether its prudent to activate your policy now or wait.
When dealing with assets of this magnitude it is best to consult with an expert before taking any action that may jeopardize your claim or reduce your policy benefits. Mistakes can be catastrophic and extremely costly. This is why it is it is essential to consult with a professional.
- A complete and up-to- date copy of your policy.
- Any denial letters (if applicable).
- Any correspondence between your self and the insurance company that you would like reviewed. (This includes options given by the insurnce company to reduce premiums in exchange for a reduction of benefits.)
You can send us copies of all these documents via fax, email or standard mail.
One option is, you can start using your policy. Most policies have what is called a waiver of premium provision. That means that if you are claim eligible and start receiving claims benefits under your policy, then you are exempt from paying premiums.
Please note, that while this provision is very common in most policies, it is not universal.
The second option, is to reduce your policy benefits in exchange for a reduction in premiums. Many insurance companies offer a variety of options that you can choose from. In our experience, many of the options will not adequately cover the cost of your future care needs. We recommend a consultation before compromising your benefits as the wrong choice can have serious and severe consequences.