Has New York Life Denied Your Disability or Long-Term Care Insurance Claim?
New York Life Insurance Company’s history can be traced back 175 years, and during that time, the company has developed a track record of fighting policyholders over their legitimate insurance claims. If you’re one of many policyholders dealing with the headache and frustration of an undervalued, delayed, or outright denied insurance claim, Donahue & Horrow is here to help you get your life back on track.
We’re a Los Angeles-based law firm that has an experienced legal team who has successfully secured millions of dollars for our clients for their denied long-term care and long-term disability claims against countless insurance companies, including New York Life. We know the playbook on how to take on the industry giants that have failed to look out for everyday policyholders like you.
Call us today if you think that you’ve been treated unfairly or unethically by New York Life: (877) 664-5407.
New York Life’s History of Denying Long-Term Care Claims
One of the unfortunate realities of aging is that medical problems can rob a person of his or her independence. When that happens, an individual must rely on the assistance of others to perform daily tasks that the able-bodied take for granted. For example, bathing, dressing, eating, transferring and even toileting. Often, a person must rely on a family member or hired help to assist in the performance of these basic tasks. The cost for such assistance can escalate quickly, but thankfully, insurance companies offer long-term care insurance for this exact situation.
Recently, New York Life has sold thousands of long-term care policies. Unfortunately, it has also quickly denied claims from individuals who filed legitimate long-term care claims. New York Life’s long-term claim denial rate has been particularly high when the policy was sold by Los Angeles-base insurance agent Granville Elliott. Donahue & Horrow knows this because the firm has repeatedly sued New York Life for failing to properly approve valid long-term care claims. As a result of those lawsuits, Donahue & Horrow’s clients were able to secure very generous settlements to pay for the long-term care they needed and were entitled to all along.
If New York Life denied your long-term care claim, call us at (877) 664-5407, and we will see if we can help you get the long-term care help that you need and deserve.
About New York Life Insurance – a Fortune 100 Giant
With a brand dating back almost 200 years, New York Life has managed to become one of the largest companies in the country and globally. The organization is comprised of the New York Life Insurance Company and New York Life Insurance and Annuity Corporation brands. In a recent Fortune 500 report, the business was ranked No. 71, with revenues exceeding $43.4 billion and profits of $880 million. The company’s total assets under management are nearly $572.3 billion.
As America’s largest mutual life insurer and with strong financial ratings from all of the major credit rating agencies, New York Life should never deny valid insurance claims. Unfortunately, some 175 years after the company was founded it is still doing so. Luckily, Donahue & Horrow has built a reputation of our own, and our legal team has fought and won against New York Life for denying policyholders’ insurance claims.
If you suspect that New York Life has been intentionally delaying or denying your long-term care or short-term disability or long-term disability insurance claim, call the Donahue & Horrow legal team today: (877) 664-5407. We’re standing by and ready to talk to you on the phone about your claim or to schedule an in-person meeting based on your schedule.
New York Life Tactics for Denying Disability Insurance Claims
A company as large as New York Life doesn’t reach this level of financial security without stepping on individual policyholders. Some of the most common tactics used by large insurance organizations when fighting valid insurance claims include:
- Denying an insurance claim after ignoring the insured’s statements about their actual, everyday occupational demands;
- Using biased physician reviews to wrongfully deny or terminate disability insurance benefit claims; and
- Not advising and educating customers about the appeal process after an insurance claim denial.
New York Life has an abundance of lawyers in-house who can fight tooth-and-nail against individuals’ insurance claims. The prospect of taking the company head-on might seem daunting, and New York Life and other insurers are known to try to “wear down” policyholders like you in the hopes that you will give up rather than fight for your benefits. The examples below are telltale signs that New York Life is fraudulently denying your insurance claim:
- Repeatedly making burdensome requests for more and more documentation, which often duplicates documentation already you already submitted;
- Downplaying medical evidence – including objective and subjective data – which supports the disability or entitlement to insurance benefits;
- Resorting to requesting so-called “independent” medical reviews by unqualified physicians or individuals; or
- Lengthy delays in making a decision on a disability insurance claim.
Real Examples of New York Life’s Misdealings
New York Life tries to play up the company’s rich, deep history throughout the country as a key selling point to prospective policyholders. The issue with New York Life’s background is that the organization has faced thousands of lawsuits for taking advantage of its own policy owners. For example, in 2008, a federal judge approved a $14 million class-action lawsuit against New York Life, which allegedly mismanaged pension funds to invest in its own mutual funds, a direct violation of the Employee Retirement Income Securities Act (ERISA).
In 2016, a California woman filed a lawsuit against New York Life and Unum, which she alleged failed to honor her disability benefits policy. She filed against New York Life for breach of contract and “bad faith” dealings, after she couldn’t return to work due to a degenerative disc disease.
New York Life’s shady dealings didn’t end on the West Coast. A father and daughter in New York filed a lawsuit against New York Life in 2018 alleging that their universal life insurance policies became “worthless” after unlawful rate increases. Originally purchased in 2004, the life insurance policy cost about $23,000 a year until 2018, at which time the premium was nearly doubled to $26,000.
Donahue & Horrow has filed dozens of lawsuits on behalf of its clients, and will sue New York Life on your behalf, if necessary and appropriate.
The Time to Act Against New York Life is Today
As New York Life has done since 1845, the company will continue to search for ways to make money, putting you and other policyholders on the backburner. If you’re dealing with a denied insurance claim from New York Life, time isn’t on your side, as claims have deadlines that must be met if you’re to successfully collect what you’re owed. Such cutoffs are especially true of claims governed by ERISA, which New York Life has shown it doesn’t respect. Call us today at (877) 664-5407 to speak with us. The Donahue & Horrow legal team will treat you like a person, not a dollar sign, and if you hire us we won’t rest until we secure the insurance benefits you’re rightfully owed.
If you have any questions, call us. New York Life insurance policies are difficult to navigate, and to overcome this complexity, it’s best to have a skilled legal team to analyze your unique policy. We’ll assist you in deciphering the New York Life policy you purchased and the company failed to pay. Call us today for a free consultation: (877) 664-5407.