“Should I accept my insurance company’s offer to settle my claim?”
First, an offer to settle is never a bad thing. At worst, you can decline to settle and continue to receive your long-term disability benefits. Furthermore, this can often be an indicator that the insurer has identified your disability as one that will endure, and they simply want to be done overseeing your claim.
In considering a settlement offer, you should weigh: (1) why is the settlement being offered, (2) whether the figure is reasonable, (3) if your benefits are likely to be terminated in the near future, and (4) what your doctors are saying about your current and future limitations.
An attorney can be of assistance in identifying whether the settlement figure is appropriate, developing a legal/medical argument that a higher settlement figure is appropriate, and negotiating the settlement documentation. We have also assisted claimants in initiating settlement discussions with the insurance company, which include many of the above-noted considerations.