Personal injury lawyers in Mississauga, Brampton, or Burlington, field lots of questions from prospective clients, one of which is “How much do you estimate my long-term disability case is worth?” Since every LTD case is complex and different, it is very difficult to answer this question. However, most of the lawyers refer to a host of things to come up with an approximation.
Factors to Consider
Whenever a lawyer is evaluating a claim to determine what it is worth, there are a number of factors that must be considered such as:
- all source maximum deduction in effect?
- any bad faith on behalf of the insurer when handling the claim
- any surveillance conducted by insurance company?
- arrears or back payments owed to the LTD insurance carrier
- claimant’s age
- claimant’s education, training, and work level experience
- duration of payment on the policy benefits
- employment potential of claimant
- insurance company doctor’s evaluation of injuries and return-to-work prognosis
- is claimant fluent in English or French?
- is insurer entitled to any “set-offs” (Canada Pension Plan, Workplace Safety and Insurance Board)?
- nature and extent of injuries
- value of monthly benefit
- your doctor’s prognosis on returning to work
In large part, the long-term disability claim’s value will be based on the above and how any questions relevant to that are answered. Plus, that the insurance adjuster will look at any unique factors relative to your personal injury case.
Unlike other accident and injury claims, long-term disability claims are commonly valued by using mathematical equations. The formula used for determining the LTD benefit’s value is calculated as follows:
value of the LTD benefit – any offsets / number of months of arrears and
future benefits owing = insurance company’s maximum exposure owed
For instance, in a motor vehicle accident case, the compensation for a plaintiff’s pain and suffering is based subjectively on precedents set in past cases. There are different Damages categories for personal injury claims in Brampton, Burlington, or Mississauga which commonly include:
- attendant care
- family law act (e.g. loss of care and companionship)
- modified home or vehicle
- out of pocket expense
- pain and suffering
- past and future care cost
- past and future income loss
As you can clearly see, there are a number of damage categories that could potentially be awarded in a motor vehicle accident case on the tort end. However, when it comes to long-term disability claims, many of those damage categories don’t exist. Basically, these are defined as “contract” claims. In other words, if there is no insurance contract, there cannot be a claim. They are based on what’s contained within the wording inside your auto insurance policy.
For more clarification and guidance throughout your LTD case, you should consult with a knowledgeable personal injury lawyer who specializes in the type of accident you experienced and the injuries you’ve sustained. Remember, your lawyer may be the only assurance of getting the compensation you deserve and ensuring that your rights are protected.
We proudly serve the residents in the Mississauga, Brampton and Burlington areas. If you want a personal injury lawyer that represents your best interests, we’d love to review your case and give a free consultation. Contact us today!