Disability Insurance

Great American Insurance Company is known for its diverse range of insurance products, primarily catering to businesses. While personal injury claims are often a part of insurance disputes, it’s essential to understand how companies like Great American handle such claims and what to expect during the process.

Understanding Personal Injury Claims and Insurance Settlements

Personal injury claims arise when an individual suffers harm due to another party’s negligence, often leading to financial, emotional, and physical losses. These claims are typically handled through an insurance company that represents the party at fault. Settlement negotiations aim to resolve the claim without resorting to lengthy and expensive court proceedings.

Great American Insurance Company's Role

Great American Insurance Company focuses primarily on specialized commercial and property insurance. However, in cases where the company provides liability coverage that overlaps with personal injury scenarios, it may handle such claims. For example, personal injury claims could involve:

Commercial Liability Coverage: If an individual sustains injuries on a business property insured by Great American.

Workers’ Compensation: Injuries that occur in the workplace.

Specialty Insurance Lines: Certain niche industries or businesses covered by Great American may face unique personal injury claims.

How Personal Injury Claims Are Settled

Settling personal injury claims with any insurance company involves a well-defined process, including the following steps:

Filing a Claim: The injured party (or their attorney) files a claim with the at-fault party's insurer, including all relevant details such as the nature of the injury, medical expenses, lost wages, and evidence of negligence.

Investigation: Great American Insurance, like most insurers, conducts a thorough investigation. This includes examining incident reports, medical records, witness statements, and other evidence to assess liability and damages.

Negotiations: If liability is established, the insurer engages in settlement negotiations. The claimant and the insurance adjuster work toward an agreement on compensation. Great American Insurance may propose a settlement amount based on their evaluation of the claim's value.

Settlement Agreement: Once both parties agree on the compensation, a settlement agreement is signed. The injured party usually waives the right to pursue further legal action in exchange for the agreed compensation.

Payment: The insurer disburses the agreed settlement amount, typically within a specified timeframe.

Factors That Influence Settlements

Several factors can affect the settlement process with Great American Insurance Company:

Policy Limits: The compensation amount is often limited to the insured's policy coverage.

Severity of Injury: More severe injuries typically result in higher settlements due to increased medical expenses, lost income, and pain and suffering.

Evidence Strength: Strong evidence of negligence and documented damages can expedite settlements.

Legal Representation: Having an experienced personal injury attorney can significantly impact the settlement process and outcome.

Challenges in Settling Claims

Like other insurers, Great American Insurance may employ strategies to minimize payouts. Common challenges include:

Delays in the investigation process.

Low initial settlement offers.

Disputes over liability or the extent of damages.

Tips for Settling Personal Injury Claims

Document Everything: Maintain thorough records of medical treatments, expenses, and communication with the insurer.

Understand Your Rights: Familiarize yourself with the terms of the policy and state-specific insurance laws.

Hire Legal Representation: An experienced attorney can negotiate effectively and ensure you receive fair compensation.

Be Patient: Settlements can take time, especially for complex claims.

Final Thoughts

Great American Insurance Company does settle personal injury claims when they fall under the coverage provided by its policies. Like all insurance companies, their goal is to resolve claims efficiently while minimizing costs. Claimants should be prepared for the process by gathering evidence, understanding policy limits, and seeking professional advice if needed.

If you're dealing with a personal injury claim involving Great American Insurance Company, consulting with a personal injury attorney is a wise step to protect your interests and maximize your compensation.

In Colorado, if you've been on short-term and long-term disability for a total of 12 months, you may be eligible for unemployment benefits once you are able to work again. However, you must apply for unemployment benefits within a specific timeframe, typically within one year from the date you became unemployed. It's essential to meet the state's eligibility criteria, including being ready and able to work. Be sure to check with the Colorado Department of Labor and Employment for specific guidelines and deadlines.

Individual disability policies typically provide income replacement in the event of a disabling condition, allowing policyholders to maintain their standard of living. They often include definitions of total disability and partial disability, as well as varying benefit periods and waiting periods. However, one common misconception is that these policies cover all types of disabilities, when in fact, many exclude certain pre-existing conditions or specific causes of disability.

As a single parent, I definitely think that they should be responsible...especially when before they were disabled short term they were out blowing all of their money on some woman that ends up leaving them when they have had surgery....yeah, I sound like I'm speaking from experience...well I AM! I have been browsing and seen so many forums about this where people are putting the mother down for asking about this! Well, GUESS WHAT....if I were to become disabled, i would still be responsible for all of my kids' needs!! The majority of men don't pay a fraction in child support of what it actually would cost them to raise a family! I understand the fact of "compassion", HOWEVER when you have a child and are getting short term disability, WHAT IN THE F*%@ WOULD KEEP YOU FROM TAKING YOUR CHILD MONEY TO SUPPORT HIM/ HER???? you already aren't a full time dad so get over yourself and take care of your kids! What would happen if the "disabled" parent had to take on full responsibilty for the child/ children????? They would somehow have to make that short term disability stretch a little further!!!!

Renewable means as long as you pay the premiums you will always have the policy. Convertible means you can convert your policy to perm without further evidence of insurability. This should be under Life Insurance questions.

In most cases, a permanently disabled person is not forced to work by law. However, there may be certain situations where disability benefits are contingent upon the individual's ability to work in some capacity that accommodates their disability. These requirements depend on the specific laws and regulations of the country or state in question.

Social Security Disability Insurance (SSDI)

SSDI benefits are given to people who are unable to work anymore because their disability or medical condition is expected to last at least one year or result in death.

To be qualified, the disabled applicant must also meet the SSA's strict definition of a disability. Your medical condition must significantly limit your ability to do basic work activities such as walking or sitting for at least one year.

However, further eligibility requirements to impose earnings test to ensure that the applicant meets the earning requirements. The "recent work" test is based on your age at the time you became disabled while under the "duration of work" test, you must have worked long enough under Social Security.

Supplemental Security Income (SSI)

Benefits under the SSI are not based on the work credits accumulated by a disabled employee - rather, it is needs-based and paid out to people who have low income and few resources. Also, SSI may be provided to the following people:

• Those who are 65-years old or older

• Those who are blind

• Disabled individuals

If you go by the definitions in the Americans with Disabilities Act, almost 1/5 of all Americans are disabled! But that's a political definition. Are you really disabled if you need glasses or a hearing aid?

A senior employer typically refers to an experienced individual who holds a leadership or managerial position within a company. They often have significant decision-making authority and are responsible for overseeing the operations and performance of their team or department.

The last time base VA Disability Compensation rates were raised was in 2018.

Yes, you can receive California State Disability Insurance (SDI) and Social Security retirement benefits at the same time. However, there may be limitations on the total amount of benefits you can receive from both programs, so it's important to check with the respective agencies for more information.

The term that best describes a collection of programs created in 1935 for old age, survivors, disability, and hospital insurance is "Social Security." It was established in the United States by the Social Security Act as a federal safety net program to provide financial support to individuals in need.

If a person with a 2-3 year long-term disability insurance becomes disabled and unable to work before the insurance benefit period ends, they may be eligible for Social Security Disability Insurance (SSDI) through the Social Security Administration. Eligibility for SSDI benefits is determined by the severity of the disability and the inability to engage in substantial gainful activity. It is possible for SSDI benefits to kick in before the expiration of the long-term disability insurance coverage.

It depends on your specific situation and the policies of your school district. Some school districts may allow you to collect both retirement benefits and disability benefits concurrently, while others may have restrictions or eligibility requirements. It is best to check with your school district's human resources department or a financial advisor for guidance on your individual circumstances.

When you turn 65, your eligibility for disability insurance may change depending on the policy. Some policies may convert to retirement benefits, while others may continue but with adjusted terms. Contact your insurance provider or check your policy to understand how turning 65 may affect your disability insurance coverage.

It depends on the particular policy, so really the only way to know is to check with the insurance company that issued it or read the actual policy language itself.

Generally speaking, benefits payable through a Group Long Term Disability policies (purchased by or through an employer) end either on the person's 65th birthday or else when the insured reaches "Social Security Normal Retirement Age", which is a sliding scale based on the date of the brith of the insured. There are also federal laws (ADEA in particular) which may affect the duration of benefit available based on the age the person becomes disabled. So for example, if a person is working and becomes disabled the day before their 65th birthday, they typically can expect a benefit period of more than just that day (for example, a full year may be available for that person, even though it is past their 65th birthday). There is often a chart listed in the policy which shows maximum benefit duration based on the age at which the insured becomes disabled.

Other policies have a flat maximum benefit duration, for example a flat 2 years, a flat 5 years, or a flat 10 years.

Finally, whenever discussing maximum benefit durations it should always be noted that a maxim benefit duration is not a guarantee of payment for that duration. All requirements set forth in the policy must be met in order to continue receiving benefits. For example, a policy may allow benefits to be paid to age 65, however after the 2nd year of disability the insured must be receiving Social Security Disability benefits in order to also receive a disability benefit. Other policies may specific a limited benefit duration, such as for mental health, substance abuse or "subjective symptom" conditions. So in those cases, benefits may end well before the maximum specified in the policy.

Chronic diseases such as heart disease, stroke, cancer, and respiratory diseases account for the largest proportion of death and disability among elders. These conditions often worsen with age and can significantly impact an individual's quality of life. Early detection, prevention, and management of chronic diseases are crucial for promoting healthy aging.

No, long term private disability income is not subject to FICA, as it is considered a disability benefit and not earned income. FICA taxes are typically applied to wages and certain other types of income.

It depends on the specific policies of the retirement plan and disability insurance. Some plans allow you to receive both benefits simultaneously, while others may have restrictions or offsets that reduce one benefit based on the other. It's recommended to review the terms of both plans and consult with a financial advisor for guidance.

The Medicare program is designed to complement the retirement, survivor, and disability insurance provided under Title II of the Social Security Act. Medicare primarily provides health insurance coverage for individuals aged 65 and older, as well as certain younger individuals with disabilities or specific medical conditions.

This assumes that you are referring to a private disability policy. Most such policies terminate benefits at age 65, as it is then that the insured would be entitled to Social Security benefits.

Every company has a different maximum issue age. Because people are living longer and continuing to work later in life, many companies have started to increase their maximum issue age. Most companies are willing to offer coverage until age 61, but there is 1 or 2 companies that are willing to make offers up to age 63.

In most cases, if you are receiving long-term disability insurance benefits, it should not impact your ability to also receive Social Security retirement benefits. However, it's important to review your specific policy and situation to ensure there are no restrictions or limitations that could affect your eligibility for both benefits simultaneously. Consulting with a financial advisor or Social Security representative can provide more tailored guidance.

Insurance companies are notrmally very specific about what they will and will not cover, the policy may only cover short term temporary disability - this does not mean the insurer has any obligations for longer term payouts, you need to read the policy carefully and if still unsure then ruing the insurere or broker that sold you the insurance

Saying the word "should" insinuates an opinion based question. There is an opinion portion to this, but more importantly is the factual portion.

If I understand this question correctly, it is asking whether or not Disability benefits will pay out beyond age 65. The answer is that in some cases it will and and in some cases it will not.

It will pay beyond age 65 if:
You are disabled and receiving benefits from an individual Disability insurance policy that has a maximum benefit period of age 67 or 70. Additionally, some contracts will have provisions stating that if you become disabled at any age later than 60, the policy will pay benefits for a limited or specific number of years. You can check the guidelines of your contract to see the circumstances in which benefits would be paid after age 65.
If you are disabled and receiving Social Security you may be eligible to receive benefits beyond age 65 as well. This will be dependent on your birth year.

It will not pay beyond age 65 if:
You are disabled and receiving benefits from an individual or group Disability insurance policy that has a maximum benefit period of to age 65.

Regarding Social Security disability benefits, when they terminate at retirement age, the benefits will change from disability to retirement benefits. The primary concern at this point is how much your retirement benefits will be if you have been disabled and out of the work force for an extensive period of time.