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Which Long Term Disability Insurance should you buy?

Just like other forms of insurance , your Long Term Disability Insurance is only as good as the Company providing it and the policy they sell. Every time I see a “Good Hands” commercial or a “like a good neighbor” commercial I think that for every dollar an insurance company spends on advertising it is a dollar that it cannot spend to pay claims.

A recent ranking of insurance companies identified a number of familiar names as the worst including several Long Term Disability Insurers. While my experience is strictly unscientific, I have seen a number of these same insurers consistently denying meritorious claims. I have filed many ERISA claims and lawsuits to reverse these denials.

So, be careful who you get your LTD insurance from. There is probably a reason that one company’s policy is less expensive. If meritorious claims are denied, the company can afford to accept a lower premium rate. Here are the top ten (or bottom ten) companies based on claims denied rankings:

1. Berkshire Hathaway
1. The Hartford
2. Allstate
2. State Farm
4. Coventry Health
5. American Family
5. Credit Suisse
6. CIGNA Health
6. Royal & Sun Alliance
7. Unum (UnumProvident)
7. GMAC
8. CNA (33)
8. Swiss Re America
9. Lumbermens (Kemper)
9. Kaiser Permanente
10. Assurant Health
10. Fairfax Financial