Legal Question in Insurance Law in Florida

Long Term Disability Insurance

I have been receiving D. I. payments since 1985. Last year the carrier denied my COL benefits at age 65. I have a 1981 letter from a VP of the carrier that states that all policy holder's COL benefits were extended for life and at 7%.The policy was written/issued in FLA. I no longer in FLA. I appealed their verbal decline and they want to negotiate a present day value of the COL benefits. Their offer was very low based on my estimated life expectency, tax free benefits. The policy does not state anything about litigation or restrictions. Do I need to consult with an attorney in FLA or in the state I presently reside?


Asked on 6/09/08, 2:45 pm

1 Answer from Attorneys
Michael Tobin Michael M. Tobin, P.A.

Re: Long Term Disability Insurance

Florida statute 627.428 allows your attorneys fee to be paid by the company. Your state should apply the Florida law where your policy was sold in Florida. I take it that you have an individual lifetime policy with a 7% COLA. (very generous).I handle in these type cases. Contact me. No consultation fee. There are a number of ways to calculate the COLA benefit. Is the company Paul Revere?

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Answered on 6/09/08, 3:15 pm


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