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November 3, 2018
Should You Accept a Lump Sum Disability Settlement?

Should You Accept a Lump Sum Disability Settlement?

With some Philadelphia long-term disability claims, an insurance company may offer an individual a one-time lump sum settlement, also referred to as a “buyout” or “washout settlement,” instead of making monthly disability payments. The two situations in which this scenario is most common are when a person has a chronic condition that will not improve and he or she would receive benefits for several years, or when a lawsuit has been filed and the insurer wants to resolve the case without reinstating benefits. For many people, the idea of a single large insurance payment can seem somewhat attractive, but there can be […]