Underwriters at New York Life Insurance Group
Our Insurance Attorneys Help Recover Income Benefits for Workers
One of the largest providers of disability insurance is New York Life Insurance Group. They offer both long-term and short-term disability insurance, with various terms available for each policy. Depending on your line of work, you may be able to partially predict how long an injury will keep you from earning, but this is obviously risky speculation. There are also other forms of disability insurance available, such as Accident-Only Disability, which does not pay out for illness or injuries due to negligence. This is also an obvious risk, as most injuries are due to negligence.
Disability insurance is crucial for workers in physical or dangerous occupations. This type of insurance provides supplemental income to injured employees to make up for lost pay. While other insurances protect your health, your car, or your property, disability insurance protects your income. It allows workers to continue providing for their family when they suffer debilitating injuries. Disability insurance is usually offered to groups or employers; however, each will work out their policy with an underwriter. An underwriter manages risk for the company, so they will seek to minimize the amount potentially paid out to you, assuming they approve your application at all.
Underwriters manage risk in a variety of ways:
- Adding exclusionary conditions
- Shrinking the number of benefits
- Decreasing the benefit period
